Datto, a cyber security and data recovery firm in CT, has released a report based upon data collected from over 1,400 managed service providers in the United States and globally. The report provides a unique perspective from the viewpoint of the SMB clients and managed services providers who are dealing with these attacks on a regular basis. This blog will address some of the key findings from that report. Perhaps the most revealing statistic immediately sets the tone for what was learned. The report revealed that an alarming 85% of SMBs have fallen victim to a ransomware attack in the last 2 years. This highlights the very real danger that these types of attacks pose to small business, and how prolific the threat has become.
ransomware threat

Survey Results

Other important results of the survey include:

  • In the first six months of 2019, 56% of MSPs reported attacks against their SMB clients.
  • 15% of MSPs report that they have experienced several ransomware attacks on the same day.
  • SMBs who keep IT services inhouse (as opposed to outsourcing) are more at risk to the ransomware threat.
  • Perhaps because the SMBs are on the front lines, 89% of MSPs are “very concerned” about the ransomware threat but only 28%  of the SMBs are worried.
  • Managed service providers report that phishing emails are the leading source of successful attacks.
  • Phishing attacks are so prevalent due to lack of employee training and procedures and weak password protocols.
  • The average ransom demanded by cyber criminals  is increasing, with the average amount being just under $6,000. This number represents a 37%, year-over-year increase.
  • The cost of downtime are increasing as well, up 200% from 2018 to 2019.
  • Managed services providers report that 92% of clients with a business continuity/disaster recovery plan in place are less likely to experience notable downtime after a ransomware attack. In fact, 80% of MSPs share that clients with continuity plans in place were back online in 24 hours or less.
  • While SMBs are targets for cyber criminals, so are managed services providers – with 80% of MSPs reporting that they have been victimized on some level as well.
  • The types of cyber attacks against SMBs were reported as follows:
    • 61% attacked by viruses
    • 54% attacked by adware
    • 46% attacked by spyware
    • 29% attacked by crypto-jacking
    • 25% attacked by remote access trojans
    • 20% attacked by rootkits
    • 18% affected by worms
    • 14% attacked by keyloggers
    • 13% attacked by exploit kits.

    All of these statistics lead to one conclusion – ransomware threats can not be ignored by anyone, not the least of which small business organizations. Businesses of all sizes must take on the challenge of business continuity planning, cyber security training, employee education, and threat assessment.

    If you own or manage a small business, you can no longer afford to push these topics to the side. Call Alliance IT today for your initial threat assessment, and to talk more about how we can help you to protect your company. Whether a consultation or ongoing services, your business will benefit from our deep bench of experience.