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As the end of 2021 approaches, there is no doubt that ransomware has become a top cybersecurity problem across multiple industries. Successful ransomware attacks like the Colonial Pipeline, which crippled critical US infrastructure, and Kaseya, which hit over 1,500 companies in a single attack, became popular topics on the news.

However, research by Cymulate shows that despite the Increase in the number of attacks In the past year, the victims suffered only limited damage in terms of severity and duration. Potential victims have improved their preparedness, with 70% reporting increases in awareness at the board and management level. The majority (55%) took proactive steps to prevent ransomware attacks before they could cause any significant damage, and many of those respondents (38%) prevented attacks before they could cause serious downtime. Only 14% of respondents who experienced an attack had been out for a week or more.

In addition to raising awareness, the survey found four critical decisions that directly minimized the damage and duration of ransomware attacks:

  1. Most have reported increases in budget and staff. Previous victims of ransomware allocate more security budget (64%) and headcount (58%) than organizations that were not previously attacked. However, non-victims still allocate more security budget (55%) and number of employees (37%) than before.
  2. Most respondents are also changing their incident response plans to include ransomware attacks and have even had practice drills in their organizations.
  3. In addition, they invest more resources and implement security solutions and procedures such as endpoint detection, multifactor authentication (MFA), additional network segmentation and improved backup mechanisms.
  4. Eventually, there has been increased awareness and adoption of offensive cybersecurity testing practices.

But despite this Cybersecurity measures added, Businesses still need to remain vigilant as there is a one in four chance of any business, regardless of size, being affected by ransomware.

The data from the Cymulate report was collected by nearly 900 business experts from 14 sectors worldwide.

read this Complete report by Cymulate.

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