Our partner’s (Datto) Global State of the Channel Ransomware Report is comprised of statistics pulled from a survey of 1,400+ managed service providers (MSPs), it’s partners, and clients, around the world. The report provides unique visibility into the state of ransomware from the perspective of the IT Channel and their SMB clients who are dealing with these infections on a daily basis. The report provides a wealth of detail on ransomware, including year-over-year trends, frequency, targets, impact, and recommendations for ransomware prevention, ensuring recovery and continuity in the face of the growing threat. 1 in 5 SMBs report that they’ve fallen victim to a ransomware attack.

 

Is your organization vulnerable to cyberthreats?

 

Alarming trend: 85% of SMBs experienced a ransomware attack in the last 2 years

  • In the first half of 2019 alone, 56% of MSPs report attacks against clients. 15% of MSPs report multiple ransomware attacks in a single day.
  • According to Strategy Analytics’ proprietary research of the North American SMB market, on average, 1 in 5 SMBs report that they’ve fallen victim to a ransomware attack. SMBs who don’t outsource their IT services are more at risk.
  • When it comes to the ransomware threat, there is a disconnect between MSPs and SMBs. 89% of MSPs are “very concerned” about the ransomware threat and 28% report their SMB clients feel the same.
  • MSPs rank phishing emails as the leading cause of successful attacks. Lack of cybersecurity training, weak passwords, and poor user practices are among the other top causes.
  • The aftermath of a ransomware attack can be a nightmare for any business. Nearly half of MSPs report victimized clients experienced business-threatening downtime.
  • The average ransom requested by hackers is increasing. MSPs report the average requested ransom for SMBs is ~$5,900, up 37%, year-over-year.
  • Downtime costs are up by 200% year-over-year, and the cost of downtime is 23 times greater than the average ransom requested in 2019.
  • 92% of MSPs report that clients with BCDR solutions in place are less likely to experience significant downtime during a ransomware attack. 4 in 5 MSPs report that victimized clients with BCDR in place recovered from the attack in 24 hours, or less.
  • SMBs aren’t the only businesses being targeted by hackers. 4 in 5 MSPs agree that their own businesses are being increasingly targeted by ransomware attacks.
  • 61% of SMBs affected by viruses, 54% by adware, 46% by spyware, 29% by cryptojacking, 25% by remote access trojans, 20% by rootkits, 18% by worms, 14% by keyloggers, 13% by exploit kits.
Ransomware prevention should be one of the top concerns for business owners and individuals.

Businesses must prepare the front line of defense:your employees. Today’s companies must provide regular and mandatory cybersecurity training to ensure all employees are able to spot and avoid a potential phishing scam in their inbox, a leading entrance point for ransomware.

 

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