Ransomware is a computer virus that encrypts files on computers, and is distributed through phishing emails where an unsuspecting computer user clicks a link in what appears to be a legitimate email from a trusted source. When the link is clicked, the infection is instantly installed on the user’s computer. According to nearly 100% of IT service providers surveyed, attacks against small businesses are becoming more frequent, a trend that will continue over the next 2 years.
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- 91% of IT service providers reported recent attacks against small businesses.
- 40% of IT service providers reported 6+ attacks in early 2016.
- 31% of IT service providers reported multiple attacks in a single day.
- In 2017, global ransomware damage costs are predicted to exceed $5 billion. That’s up from $325 million and
more than 15x since 2015. - It is growing at a yearly rate of 350% and the U.S. accounts for over 50% of all attacks.
- On Friday, May 12, 2017, the world was hit by a fast-moving Cryptoware infection, Wannacrypt. Over 81,000 infections were reported globally within 12 hours.
- Telefonica, Spain's largest telecom company, reported that they would have to pay $500,000 to unlock all encrypted files on their network.
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“The WannaCrypy attack is the largest we’ve ever seen of its kind, demonstrating in real time that ransomware continues to escalate as a global problem and a lucrative business for cyber criminals.” - Mike Fey, President & CEO of Symantec
All statistics provided by: Datto’s 2016 Ransomware Report, Cyber Security Ventures, Cisco 2017 Annual Cyber Security Report