Ransomware attacks are becoming more dangerous. How can businesses respond?
Posted: Mon Feb 10, 2025 9:00 am
Dave Russell, VP of Enterprise Strategy, Veeam | 08/04/2021
Ransomware attacks are causing massive damage to companies around the world, forcing them to pay extortionate ransoms if they succeed. The situation has only worsened with the mass transition to remote work. The expansion of the workplace beyond the office — online and to remote workstations — has created new vulnerabilities that criminals are eager to exploit.
Today, according to CyberSecurity Ventures, a ransomware attack occurs every 11 seconds. That means that in the five minutes it takes you to read this article, 27 companies will be attacked. The best advice in this situation is to ignore it and not pay. However, most companies will pay the ransom anyway. Why? They simply need to estonia mobile database the damage from business downtime due to a ransomware attack in a critical situation, and paying is the easiest solution.
So it’s not surprising, especially considering that companies are already faced with an incredible number of new, urgent problems to solve due to the difficult conditions of the COVID-19 pandemic. But this behavior only encourages cybercriminals to continue their illegal and extremely profitable activities. This is confirmed by the 600% increase in attacks since the beginning of the pandemic.
Ransomware attacks are causing massive damage to companies around the world, forcing them to pay extortionate ransoms if they succeed. The situation has only worsened with the mass transition to remote work. The expansion of the workplace beyond the office — online and to remote workstations — has created new vulnerabilities that criminals are eager to exploit.
Today, according to CyberSecurity Ventures, a ransomware attack occurs every 11 seconds. That means that in the five minutes it takes you to read this article, 27 companies will be attacked. The best advice in this situation is to ignore it and not pay. However, most companies will pay the ransom anyway. Why? They simply need to estonia mobile database the damage from business downtime due to a ransomware attack in a critical situation, and paying is the easiest solution.
So it’s not surprising, especially considering that companies are already faced with an incredible number of new, urgent problems to solve due to the difficult conditions of the COVID-19 pandemic. But this behavior only encourages cybercriminals to continue their illegal and extremely profitable activities. This is confirmed by the 600% increase in attacks since the beginning of the pandemic.