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The Cost of Ransomware

The cyber criminals behind ransomware see their efforts as a volume business.  Charge too much, and victims will not pay. Targeting businesses and organizations in wealthier countries and in cities where people and businesses are most likely able to pay, the typical ransom is often about $500.  More recently, we have heard of ransoms between 1 and 2 bitcoin (about US$600 to US$1300).

The ransom is only part of the cost

Every victim loses productivity from the start of the attack until it is fully resolved. Whether or not you pay, you still need to conduct a full sweep of all of your systems to ensure the ransomware has been removed. Otherwise, you risk reinfection.

For organizations that pay the ransom, they still suffer the time and cost of decrypting and validating files, a process that can consume days or weeks of IT resources. If you choose not to pay, you have the cost of recovering data from before the attacks and re-creating lost information across all of your servers, systems, and applications. We recently spoke with a company that lost less than 6 months of data. After three months, they are still working to recreate lost files and transactions as they have no way of knowing if they have missed any.

A ransomware attack can cost tens of thousands of dollars to clean up. Attacks may also damage valuable customer and vendor relationships and result in higher bookkeeping, accounting, and legal fees.

A dollar of prevention ….

The costs associated with prevention and the ability to recover quickly (should an attack breach your defenses) is relatively minor. The value of prevention and preparation is well worth the cost.

Learn more …

You can protect your business against ransomware attacks. In our new eBook, a Business Guide to Ransomware, you will learn how malware spreads, the different types of ransomware proliferating today, and what you can do to avoid or recover from an attack. Hiding your head in the sand does not work, because today’s ransom seekers play dirty. Make sure your organization is prepared.


For a 1:1 consultation and assessment of your risk, contact us today.


Be Able to Recover

Backup Man
Accidents will happen. And while accidents that damage or destroy data are more common, malicious attacks will happen as well.  The rate of ransomware is on the rise and large companies are not the only targets. Whether by phishing attack, advanced persistent threat, or other means your company is seen as having data valuable enough to extort a ransom, you are a target.

In short, if you are reading this, you are a potential target.

While improving your endpoint protection and educating users can greatly minimize your risk, no malware solution can provide you with a guarantee against ransomware. So, if you are hit, you need to be able to recover.

For your on-premise systems, you most likely have a backup/recovery solution. In the event of ransomware, you can delete the encrypted files and restore from a point in time prior to the attack. Yes, you lose data, but a solid backup plan can minimize the loss and the impact.

Your cloud data needs the same protection. You want the same recovery process.  

Traditional and cloud backup services can be installed and connected to cloud servers in much the same way as they work for on-premise servers. For cloud file services, like Google Drive and Microsoft OneDrive, traditional backup solutions will not work as they cannot connect to the service. The same holds true for data in SaaS applications like Salesforce.com.  You need a specialized solution.

Our Recommendation

For most of our Google Apps and Microsoft Office 365 clients, we recommend Backupify as our preferred solution for several reasons:

  • Multiple backups per day for some or all users
  • Unlimited backup space
  • Unlimited backup retention
  • Multiple admin accounts with delegation
  • Powerful search
  • Fast restores
  • The ability to archive data for past users (Google Apps)

Our Offer

Try Backupify for free for 21 days. If you like what you see, we can save you money on license and support.  If not, we discontinue the service.

Interested? Let us know.