Ransomware Attacks in South Africa
Here’s How Much it Costs to Recover from a Ransomware Attack in 2021
Sourced from International IDEA The cost of an average ransomware attack has more than doubled in a year, increasing from $761,106 in 2020 to $1.85 million in 2021. According to “The State of Ransomware 2021” report from Sophos, the average ransom paid is $170,404. While the number of organizations that experienced a ransomware attack fell from 51% of respondents surveyed in 2020 to 37% in 2021, and fewer organizations suffered data encryption as the result of a significant attack (54% in 2021 compared to 73% in 2020), the new survey results reveal worrying upward trends, particularly in terms of the impact of a ransomware attack. “The apparent decline in the number of organizations being hit by ransomware is good news, but it is tempered by the fact that this is likely to reflect, at...
6 Tips to Defend Against Ransomware Attacks
Over the last few years, the number of users encountering targeted ransomware – malware used to extort money from high-profile targets, such as corporations, government agencies, and municipal organisations – increased by 767%. With that in mind, here are 6 things you can do to defend against ransomware attacks: Assume you will be hit. Ransomware remains highly prevalent – no sector, country or organization size is immune from the risk. It’s better to be prepared, but not hit, rather than the other way round. Make backups and keep a copy offline. Backups are the main method organizations surveyed used to recover their data after an attack. Opt for the industry-standard approach of 3:2:1 (three sets of backups, using two different media, one of which is kept offline). Deploy layered protect...
Are BaaS Solutions the Answer to Spike in Ransomware Attacks?
With an ever-growing number of people working from home, primarily due to the global COVID-19 pandemic, cybersecurity attacks are on the rise, meaning that dealing with security risks is an ongoing journey for enterprises. IDC predicts that by 2023, 60% of data will be generated at the edge by people working from home and from devices outside of the corporate firewall. While at the same time, many corporate cloud services are already being rendered from locations outside the data centre. This has given rise to ransomware attacks as many employees who are working remotely have their firewalls and access points configured to allow remote access. This has also seen an increase in ransomware attacks against Software-as-a-Service (SaaS) applications. While SaaS applications are generally secure...
Research Shows an Increase in Ransomware Attacks on South African Companies
South Africa is firmly in the sights of international cybercrime syndicates, who have been ramping up their attacks on local companies in the past six months – reveals cybersecurity defence, offence and protection specialist, Nclose. Martin Potgieter, Co-Founder of Nclose, says the Nview MDR team have detected a significant uptick in the number of attempts made against local customers in recent months. “We, and our colleagues in the cybersecurity sector, are seeing a surge in cybercrime activity – in particular ransomware attacks,” he says. “There has definitely been an increase in syndicates that make use of humans to launch and coordinate their attacks, they are not just relying on automated ransomware attacks.” Stephen Osler, Co-Founder at Nclose, says South African companies typical...
