Companies Estimate Five Days to Recover From Unpaid Ransomware

Some 66% of companies believe it would take them at least five days to recover from an unpaid ransomware attack, according to a new survey....
Companies Estimate Five Days to Recover From Unpaid Ransomware
Written by Matt Milano

Some 66% of companies believe it would take them at least five days to recover from an unpaid ransomware attack, according to a new survey.

Ransomware has become one of the most popular and lucrative types of cyber attacks in recent years, with companies of all types and sizes falling victim. Government, non-profits and healthcare organizations have increasingly been in the crosshairs as well. In fact, the first confirmed ransomware death occurred when a hospital in Germany was hit in September.

One of the biggest challenges many organizations face is the whether to pay or try to recover on their own from an attack. According to data firm Veritas’ 2020 Ransomware Resiliency Report, 66% of companies estimate it would take at least five days to recover from an attack if they chose not to pay the ransom.

As ransomware attackers continue to deploy more effective and potentially devastating means of holding companies’ data and workloads ransom, the time for enterprises to act is now. They need to immediately assess their resiliency approach and make their backup and disaster recovery processes more robust, no matter where their data and applications are hosted, so they can more confidently pursue their hybrid multicloud strategy.

The full report is worth a read, and illustrates the need for companies to continue to improve their ransomware resiliency.

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