Failure to keep up with complexity leaves businesses at ransomware risk

Skull of salvation

Companies are increasingly storing data in hybrid and multi-cloud environments, but a new report shows that this increased complexity can also involve risks.

In today’s Veritas Technologies report, only 36% of respondents said their security keeps pace with complex IT systems. This underlines the need for more data protection solutions that can protect against blackmail in an increasingly diverse environment.

If companies are bought out and cannot restore their data from a backup, they can pay hackers to return the information to them. The Veritas study shows that companies with more complex multi-cloud infrastructures are more willing to make such payments.

The average number of clouds used by organizations that have paid the ransom in full is 14.06. For those who have paid only part of the ransom, the figure falls to 12.61, and for those who have not paid at all – to 7.22. In fact, only 20% of companies with less than five clouds paid the full amount of the refund, less than half (44%) – for companies over 20 years old. In comparison, 57% of minors pay nothing to their hackers, and only 17% of over-20s.

The complexity of cloud architecture also has a significant impact on an organization’s ability to recover from a ransom attack. While 43% of companies with less than five cloud providers experienced a business interruption in their infrastructure in less than a day, only 18% of companies with more than 20 cloud providers resumed normal operations at the same pace. Moreover, 39% of 20-year-olds had to wait five to ten days before they could log in again, and only 16% of 20-year-olds had to wait that long.

While the study shows that organisations need to do more to fully protect data in their complex cloud infrastructures, it also highlights the need for a clear understanding of the data protection framework. Only 55% of respondents can claim to have offline backups, although they are more likely to recover more than 90% of their data.

The benefits of hybrid cloud computing are increasingly recognized by organizations around the world, said John Abel, senior vice president and general manager of information technology at Veritas. To get the best experience at the best price, enterprises choose the best cloud computing solutions in their manufacturing environments, and the average enterprise today uses nearly 12 different cloud computing vendors to achieve its digital transformation. However, our research shows that the data protection strategies of many companies do not reflect the state of the art and are therefore more affected by an acquisition. To protect themselves from the financial and reputational damage caused by ransom demands, organisations need to look for data protection solutions that can cover their increasingly heterogeneous infrastructures, regardless of their complexity.

The full report can be found on the Veritas website.

Photo rental : Carlos Amarillo/Shutterstock

veritas acquired by carlyle,veritas technologies revenue 2019,veritas technologies linkedin,carlyle group crunchbase,globanet,veritas stock price,endpoint security,sophos

You May Also Like