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Ransomware Could Strike Any Moment – Are You Ready?

Insights from the Ransomware Trends Report 2024

Ransomware remains the top concern when discussing data backup. Organisations face constant threats, making it imperative to adopt a proactive stance.

Imagine the chaos and disruption a ransomware attack can cause—crippling operations, financial loss, and reputational damage.

Unfortunately, this isn’t a rare occurrence. In 2023 alone, 1,200 IT professionals, including CISOs and security experts, reported experiencing at least one ransomware attack.

At Centerprise Cloud, we bring nearly three decades of experience of safeguarding against ransomware.

Partnering with Veeam, a cloud data management solutions leader, we support a robust “When, not If” mindset to combat these threats effectively.

Veeam’s annual independent studies, backed by insights from IT executives, enhance strategies against ransomware, focusing on organisational cohesion and essential technologies for recovery.

Download the latest Veeam report to uncover the scope and impact of cyberattacks on 1,200 organisations. Learn how critical organisational cohesion is for preparation and response, and explore the essential technologies needed to improve your cyberattack recovery processes.

The Economic Impact of Ransom Payments

Of the surveyed organisations, 54% regained their data after paying the ransom, while 27% paid without data recovery. 11% managed to restore their data without making any payments, and 4% were never targeted for a ransom.

These figures reveal a sobering truth: about one-quarter of the organisations that paid the ransom failed to retrieve their data, highlighting the critical need for robust data protection plans that extend beyond paying ransoms.

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Interestingly, 89% of these organisations reported that the ransom payment was not the most significant financial burden. It’s vital to consider the wider effects of a ransomware attack, such as reputational damage, productivity losses, rising insurance premiums, and overall financial repercussions. Effective security measures across all operational areas are crucial to mitigate these multifaceted risks.

The Importance of Immutable Storage in Data Recovery

The report stresses the importance of establishing a data recovery strategy that avoids ransom payments. For 2024, the necessity for organisations to implement immutable storage solutions both on-site and in the cloud is clearer than ever. Yet, there are considerable gaps:

    • Only 75% of the affected entities employ hardened disks on-premises.
    • A mere 85% have adopted immutable cloud storage solutions.
    • Just half of the total backup storage utilised is immutable.

The report encourages the adoption of the 3-2-1-1-0 Backup Rule and emphasises the need for a broader implementation of immutable storage options.

Centerprise Cloud’s Backup as a Service (BaaS) solution, powered by Veeam, enables you to effortlessly implement the 3-2-1-1-0 backup policy. This service not only simplifies your data protection strategy but also ensures the sovereignty of your data.

Veeam’s Multi-Layered Approach

Our partner Veeam is committed to providing secure backup solutions, which they believe is the foremost defence against ransomware threats. By ensuring minimal downtime and data loss, Veeam delivers a range of recovery options and a versatile data format that supports recovery efforts across different platforms—from physical and virtual environments to various cloud configurations. Veeam’s layered approach to ransomware defence ensures reliance on a variety of solutions for effective protection and recovery.

This backup capability, combined with Centerprise Cloud’s engineering team’s century-long expertise in Business Continuity and Disaster Recovery, ensures that your data is not only backed up using best-in-class technology but also supported by top-tier professionals when you need it most.

Centerprise Cloud: Your Premier Veeam Cloud Service Provider

Centerprise Cloud, a premier Veeam Cloud Service Provider for over a decade, brings over 30 years of specialised experience in Business Continuity and Disaster Recovery. With our expertise and Veeam’s cutting-edge solutions, you can be confident that your data is in safe hands and can be recovered efficiently whenever needed.

Contact us today to learn more about how we can elevate your data protection strategy to the next level.

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