Here are the common mistakes organizations need to avoid when creating a ransomware recovery strategy: Relying on Traditional File Scanning to Test & Cleanse VMs While companies who have fallen victim to devastating ransomware attacks understand this, many who have not yet been attacked don’t realize what it takes to have an effective strategy in place. Ransomware recovery helps ensure systems can effectively respond and recover after an attack, acting as the critical last line of defense. This is where ransomware recovery comes in. Even if a company has the absolute top-of-the-line preventative cybersecurity measures in place, they cannot assume they will be 100 percent effective all of the time. With the rise of RaaS, the barriers to entry for being a cyber-criminal have been greatly reduced, making it far easier to carry out a ransomware attack.Īccording to the NIST (National Institute of Standards and Technology) Cybersecurity Framework, a robust ransomware protection plan must include both preventative and recovery measures. RaaS is growing as a business, with total ransomware revenues in 2020 totaling around $20 billion, up significantly from the previous year. Meanwhile, some ransomware groups are offering ransomware as a Service (RaaS) where they sell their tools for other criminals to use. Cybersecurity Ventures predicts that ransomware will cost victims more than around $265 billion (USD) annually by 2031. Ransomware attacks have evolved from scattered threats by small-time hackers into multi-stage, targeted campaigns executed by sophisticated criminal organizations and state-sponsored groups. The bigger challenge, however, isn’t that these attacks are becoming more prominent – but that the nature of the attacks has significantly changed. In fact, VMware research shows that nearly 60 percent of companies surveyed experienced a ransomware attack in the past 12 months, while 65 percent noted an increase in attacks since Russia invaded Ukraine. Ransomware attacks have consistently been on the rise in recent years. In this feature, VMware‘s Mark Chuang reveals key ransomware recovery mistakes to avoid. Solutions Review’s Expert Insights Series is a collection of contributed articles written by industry experts in enterprise software categories.
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