Asia-Pacific Small Businesses Experience Rising Increase in Ransomware Attacks

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One Third of of IT Service Providers Report Having Clients Victimized by Cyber-Attackers; most expect significant rise in number of victims

datto_logoSurveying over 100 IT service providers in Asia-Pacific, representing hundreds of thousands of small businesses, a new study by Datto has revealed that over one third of those service providers’ clients have been victimized by ransomware in the past twelve months. A shocking 24 percent of survey respondents also reported clients experiencing more than half a dozen separate attacks during the same time frame.

The survey was among the first of its kind to shed light on this rapidly growing form of cyber attack in which hackers commandeer a company’s data and hold it under password protection until a considerable ransom is paid, usually in bitcoin – a digital, anonymous currency.  In a clear indication of ransomware’s growth as a major impediment to business, 24 percent of respondents replied that they had clients who had experienced multiple attacks in a single day, a number experts expect will continue to grow. 45 percent of survey respondents also mentioned that ransomware attacks had led to business-threatening downtime for their clients.

According to the survey’s other findings, the average ransom demanded ranges between $500 and $15,000—often a considerable expenditure for a small business with limited resources—with 5 percent of respondents, however, reporting a ransom larger than $20,000. And payment, sadly, does not guarantee the data’s return: as much as 14 percent of respondents reported incidents in which payment did not result in the secure return of the hijacked data to their clients.

Lack of end-user training and phishing emails proved to be the leading sources of ransomware infections whilst the majority of respondents were also quick to point out that defensive security measures such as anti-virus or anti-malware software used in isolation do not offer bulletproof protection.  Most agreed that a combination of software, employee training and data backup and recovery solutions offered the best defence against ransomware attacks.

“Ransomware is not about a couple of hacker kids sitting in the basement and messing around,” said Austin McChord, Datto’s CEO. “It’s a major enterprise orchestrated by large and well-funded companies, and it’s becoming a massive problem for businesses, regardless of industry or geographical location. Our survey found that a considerable number of businesses experienced business-threatening downtime as a result of being attacked, and that most attacks sailed right past the anti-viruses and other measures small businesses think will protect them from such cyber crime.”

While ransomware affected all industries, the most vulnerable to attacks are the consumer products, computer services, manufacturing and construction and professional services industries.

Nop Srinara, Sales Director Asia, Datto Inc. said, “Our IT service provider partners are at the forefront of helping businesses ensure they are adequately protected from ransomware attacks.  And as this survey proves, the only businesses who were able to successfully overcome a ransomware attack close to 100 percent of the time were those with backup and recovery solutions in place.  We hope more businesses pay attention and take the necessary precautions.”

To access the full report please go to: http://www.datto.com/au/resources/dattos-state-of-the-channel-apac-ransomware-report

About Datto:
Datto protects essential business data for tens of thousands of the world’s fastest growing companies. Our Total Data Protection platform delivers uninterrupted access to data on site, in transit and in the cloud. Through Datto’s network of partners, we provide companies with products and services designed to continually keep business running. Businesses rely on Datto for industry leading technology combined with unrivaled customer service. Datto is headquartered in Norwalk, Connecticut, and has offices in Rochester, Boston, Toronto, London, Singapore, and Sydney.

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