It seems size doesn’t matter all that much as ransomware hits SMBs too
That’s the assessment of cyber security company Malwarebytes, which has found as many as one third of small-to-medium-sized businesses were hit by ransomware last year, and that “the human factor” is increasingly behind large-scale outages.
The findings come as part of Malwarebytes’ Second Annual State of Ransomware Report, which showed that, of the 32 percent of companies hit by at least one malware attack last year, one fifth had to completely stop operations immediately. Do not pass go, do not collect $200 (unless you’re coughing it up in Bitcoin).
According to the report, ransomware hits SMBs just like the big guys. Last year attacks caused 22 percent of infected small and medium-sized organizations to cease business operations immediately.
“Businesses of all sizes are increasingly at risk for ransomware attacks,” said Marcin Kleczynski, CEO, Malwarebytes. “However, the stakes of a single attack for a small business are far different from the stakes of a single attack for a large enterprise. Osterman’s findings demonstrate that SMBs are suffering in the wake of attacks, to the point where they must cease business operations. To make matters worse, most of them lack the confidence in their ability to stop an attack, despite significant investments in defensive technologies. To be effective, the security community must thoroughly understand the battles that these companies are facing, so we can better protect them.”
The impact of ransomware on SMBs can be devastating. For roughly one in six impacted organizations, a ransomware infection caused 25 or more hours of downtime, with some organizations reporting that it caused systems to be down for more than 100 hours. Further, among SMBs that experienced a ransomware attack, 22 percent reported that they had to cease business operations immediately, and 15 percent lost revenue.