Why should I be concerned about ransomware?

Ransomware is not like the neon windbreakers of the early ’90s, which quickly faded, or the popular toy Furbies, which peaked in sales a few years after being introduced in 1998. No, ransomware is here to stay. According to the FBI, “Cyber criminals collected $209 million in the first three months of 2016 by extorting business and institutions to unlock computer servers.” At this rate ransomware is on pace to become a $1-billion-a-year industry. The stakes are high and you must have a proper backup plan in place.

The days of backing up systems to tape and external drives are long gone. Once considered the future of data protection, cloud backup is now an essential part of a comprehensive backup strategy. And the best part about cloud backups is how simple they are. Most offerings have set-it-and–forget-it scheduling, so you or your company’s IT department does not have to spend time backing up your data. These backups are also non-disruptive, meaning they are going on in the background while you are working and will not disturb current workloads.

Not only are cloud backups automatic and non-disruptive, they are very secure. Data security is a hot topic for companies today and will be going forward. Cloud backups are typically encrypted at the source, while in flight to the data centers, and while at rest in the data center. Most cloud backup providers will provide a variety of encryption options, including 256-bit AES encryption and 458-bit Blowfish.

You may be asking yourself, “This all sounds great, but what happens in the event my data gets attacked?” Keep in mind that cloud backups are structured in a way that allows you to roll back to a point in time prior to the attack. For example, let’s say at 12:30 p.m. your laptop locks up and a pop-up appears on the screen informing you that your data has been hijacked and encrypted and demanding a ransom in Bitcoins in exchange for a decryption key.  You would first notify management of what is going on and then go straight to your friends in IT. They will be able to pull the last backup at 12:00 p.m. and restore your data in a matter of minutes.

Cloud backup is a second line of defense to antivirus and threat detection software and was designed with the end user in mind. Providing great data protection and easy restore options makes for a hassle-free backup policy. Just imagine if your system were attacked by ransomware and you did not have a backup policy in place. You could be paying the ransom, and worse, not even receiving an appropriate decryption key. What would that do to your business?

In an interview with The Wall Street Journal, Brian Dye, Symantec’s SVP of information security, says, “Antivirus software only detects 45% of all attacks.” And according to the Global Data Protection Index, 36% of companies have suffered unplanned system downtime and/or data loss due to an external or internal security breach. Clearly, ransomware and other forms of malware are on the rise and are a very real threat to your business. The good news is that Mozy by EMC can help prevent a ransomware data loss disaster with easy-to-deploy and efficient cloud-based backup solutions.