You have made the investment into your firewall and virus protection for your company but is that enough? The answer unfortunately is no and too many company's discover this to late.
Do you and you employees know what to do if a computer gets infected with ransomware? If you answered anything short of ripping the ethernet cord or power cord out of the wall that can be a very expensive lesson to learn the hard way.
Unfortunately your antivirus and firewall can only defend against known threats. That is where the companies that provide Realtime monitoring and SOC services come in. These companies have NexGen AI that monitors your network looking for anomalies and either addresses them automatically or alerts you of them when they happen depending on severity.
So now when a ransomware file hits one of your computers they are able to take real-time percussions on the network isolating that computer and blocking the file on all your other computers.
Here are some examples of companies that learned the hard way
Demant Ransomware attack– The mitigation and data recovery costs are estimated to be between $80 million to $95 million
Ransomware attack on Norsk Hydro- This Norway based company was hit by a malware named LockerGoga. And the recovery and mitigation costs are expected to between $60m to $73m.
Baltimore Ransomware attack- The recovery cost of this malware attack which took place in May’19 is estimated to be $18.2 million.
Texas- Over 22 Texas municipalities were hit by a ransomware attack in August 2019 and the mitigation costs along with recovery are estimated to be $12 million.
New Orleans- The ransomware attack is said to have cost the city $3 million. Over 450 servers and 3500 laptops.
Riviera Beach, Florida Ransomware attack- The recovery and mitigation costs are expected to be around $1.5 million.
Massachusetts ransomware attack- A Ryuk ransomware attack that took place on New Bedford city of Massachusetts is said to have impacted over 200 systems attacked to a network of over 3,800 laptops and workstations. The hackers reportedly demanded $6 million in bitcoins. However, New Bedford city’s IT staff negotiated the sum and paid $400,000 in cryptocurrency to contain the malware and decrypt the already encrypted files. Estimation of recovery and mitigation costs is yet to be known.
Lake City Ransomware attacks Florida- Hackers reportedly disrupted the entire computer network of Lake city in June last year through Ryuk Ransomware. And the city paid $460,000 to hackers to recover its data. .
Georgia Ransomware Attack- In March last year, hackers infected the servers at the Jackson County Georgia with Ryuk Ransomware. And the county bowed down to the demands of hackers and paid $400,000 as a ransom to free up data back from the malware.
Albany City of New York- The IT systems at the Albany City were hit by ransomware attack disrupting the systems thorough out the city. However, the city chose not to pay to hackers and instead recovered the data through critical backups. It also spent around $300,000 to buy an efficient firewall, an insurance cover, upgrade of hardware and software and purchase of some software licenses from Microsoft along with credit monitoring services and some professional IT services.
Proactive smart cloud security, not just reactive damage control