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Cyber Security Services: Do You Need A Data Hostage Negotiator?

Apr 8, 2019 9:00:00 AM / by Eric Benda, CEO

Get Our Complimentary Guide to Freeing Your Files in a Ransom Ware Attack – And Avoiding One

According to a recent report from Datto, a leading provider of cyber security services and solutions to managed service providers (MSPs) like us, ransomware attacks are continuing to grow like wildfire and are expected to continue increasing at a rapid clip. These costly cyber security attacks tie up your data until you pay a ransom to the hacker. It’s not just the ransom money, but also the downtime and loss of productivity that make this a threat to avoid or manage efficiently.

Here are some key findings from the Datto report, which surveyed 2,400 MSPs serving small-to-mid-sized companies (SMBs) worldwide:

  • From Q2 2016 - Q2 2018, 79 percent of MSPs reported ransomware attacks against SMB clients. In the first half of 2018 alone, 55 percent reported such attacks.

  • 92 percent of MSPs predict the number of ransomware attacks will continue at the current rates or become worse in the future. 

  • Although some clients are attacked multiple times, only about 24 percent of all attacks are reported to authorities for fear of negative publicity, which means the problem is far greater than available statistics show.

  • MSPs rank back-up and disaster recovery as the most effective protection against ransomware attacks although there are other initiatives that contribute to a comprehensive cyber security plan -including training, patch management, and antivirus software.

  • The average ransom demanded is $4300, but it can go much higher. Worse, the average downtime cost is $46,800, more than 10 times higher than the ransom.

  • No industry is immune. The finance/insurance sector suffered 27 percent of reported attacks.

  • No devices, operating systems or software/apps are immune – not even your iPhone. The number of report OS/iOS attacks is up 500 percent from the previous year.

There’s much more to be concerned about. This is really bad. That’s why we’ve created a new free Guide to Freeing Your Files in a Ransom Ware Attack – And Avoiding One. You’ll learn:

  • How these attacks occur.

  • How to prevent attacks before they happen.

  • How to know if you’ve been attacked.

  • What to do if it happens.r

You can download the Guide here.


If you’d like to speak with Soundshore Technology Group’s cyber security experts, send an email to sales@soundshore.net. We’ll be happy to help. While you’re here, please take a look at our full array of cyber security services.

Topics: cyber security, cybersecurity

Eric Benda, CEO

Written by Eric Benda, CEO