2021 Global Ransomware Damage Predicted to Reach $20 Billion (USD): Trends and Countermeasures

   

: cloud backup , cloud , backup , ransomware , cyberattack , cybersecurity

By blog Jan 08 2021

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With the increasing spread of digital transformation and remote work, cybersecurity is becoming even more important. One particularly alarming and growing risk is the threat of ransomware.
 
Ransomware damage has increased 15-fold in just two years
 
Ransomware is a powerful malware that can infect PCs and spread to a company network, making all data unreadable. The normal tactic of attackers is to threaten the complete and irreparable destruction of data if a specified ransom is not paid by the deadline.
 
According to a report by Cybersecurity Ventures, global ransomware damage was around $325 million in 2015. However, by 2017, it had grown 15 times that amount to approximately $5 billion. At this rate, it is predicted to reach $20 billion by 2021. This is one of the highest rates of expansion among all cybercrimes, and various media, industry leaders, security companies, and cyber-attack experts confirm that the above prediction is likely to be correct.
 
With an attack every 11 seconds, ransomware is becoming a mainstream cyber-attack
 
Because it is relatively easy to implement and the returns are great, ransomware is quickly developing into a common problem around the world, including Japan.
 
In 2016, the attack rate was once every 40 seconds, and the number of companies affected by ransomware has only continued to grow. It is estimated that in 2021, the pace will accelerate to the point where every 11 seconds a company will experience a ransomware incident.
 
Once infected, data recovery is difficult
 
The trouble with ransomware is that once infected, complete data recovery is often impossible. There is no guarantee that data will be returned even if the ransom is paid.
 
In fact, it is reported that in most cases, the ransom was paid, but the data was already destroyed and could not be recovered. Moreover, the ransom demanded by the attackers is increasing more and more every year.
 
Education x Cloud: Two Approaches to Ransomware Protection
 
Let’s look at some possible losses from a ransomware attack:
 
・Loss of important business data and customer documents
・Loss of public trust
・Suspension of normal business operations (for several days to several weeks)
 
For small and medium-sized enterprises and businesses, pre-emptive ransomware protection is very important.
 
Effective ransomware countermeasures should take a two-pronged approach: the human side and the software side.
 
The term “human side” refers to the education and training of employees. The vector of ransomware infection is usually email. Regular and ongoing employee education about tips and tricks for identifying malicious emails and the risks of ransomware is simple, yet extremely effective.
 
On the “software side,” in addition to installing ransomware-compatible security software, it is important to incorporate a solution that can safely back up data in case of an emergency. With cloud backup, all data is stored on a secure cloud server that is separate from the company's network, providing assurance even if a ransomware infection occurs.
 
The best in ransomware protection from Tsukaeru Cloud Backup + (Plus)!
 
Tsukaeru Cloud Backup+ is a popular service that is ideal for ransomware protection. Easy to implement, it provides a simple and powerful all-in-one solution.
 
Tsukaeru Cloud Backup+ features are as follows:

・Centralized security measure and backup management in a single service
・Latest AI-incorporated ransomware countermeasures
・Comprehensive cybersecurity measures with an easy-to-understand management screen
・Secure cloud backup file and data protection
 
It’s never too late to start playing it safe.
 
By the time a ransomware infection is identified and panic sets in, it's too late. As remote work continues to be a major issue in 2021, the possibility of more attacks and even more dangerous variations will not disappear anytime soon.
 
If you have any questions, please feel free to contact us by phone or email. A free trial service is also available!
 
Click here for more information about Tsukaeru Cloud Backup+.
 
Contact us at Tsukaeru.
 
Toll-free number: 0120-961-166 (Office hours: 10:00 – 17:00)
 
 
Reference: https://cybersecurityventures.com/global-ransomware-damage-costs-predicted-to-reach-20-billion-usd-by-2021/


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