Over 2020 – 2021, with a global shift to more people and organisations working remotely, security awareness for businesses has become a number one priority for many managers and executives. 2020 saw the continuing rise in ransomware attacks, sitting at the top of the list making up 23% of all attack methods on businesses and organisations around the globe. Ransomware is a type of malicious software that infects a computer and restricts users’ access to it until a ransom is paid to unlock it (1). One group of ransomware actors (Sodinokibi) were estimated to have obtained over $123 million alone, with over 21 terabytes of data stolen from individuals and businesses in 2020 (2).
Along with ransomware attacks, businesses are experiencing more and more types of aggressive attempts at accessing valuable data and systems. While ransomware itself can have a direct dollar value associated with the costs of trying to remedy the attack, businesses need to realise, and ask themselves – what is the real cost of an attack like this? Not only could there be considerable impacts on the ability to operate during or after an attack, but what about the loss of your valuable IP? Or your customers’ personal information being exposed? If a massive data breach were to occur, not only are the financial outcomes horrific, but you also need to consider the negative implication on your brand. Your data in the wrong hands is a nightmare, and it’s something that you must plan for to minimise the likelihood of happening in the future.