Ransomware Causes Major Financial Damage

It’s National Cyber Security Awareness Month (NCSAM)

Note: The purpose of NCSAM is to raise awareness about the ongoing threat of cybercrime and preventing it with cybersecurity tools. NCSAM is just one more way to stay focused on protecting data. Today’s blog highlights recent ransomware activity and how you can avoid a ransomware disaster.

Ransomware predictions become reality

Some predictions do come true. For example, a year ago Forrester declared that “Targeted espionage, ransomware, denial of service, privacy breaches, and more will escalate in 2017.” In its 2017 Predictions: Dynamics That Will Shape The Future In The Age Of The Consumer report, Forrester predicted that a “Fortune 1000 company will fail because of a cyberbreach.”

Consider the following related bad news regarding the recent NotPetya ransomware outbreak:

   •     A multinational courier delivery services company has attributed $300 million in lost earnings to the NotPetya attack on its          subsidiary in Europe.

   •     A container shipping company released a statement revealing that the NotPetya cyberattack led to a predominant loss of          business earlier in the year—as much as $200 million to $300 million in lost revenue.

   •     A multinational confectionery, food, and beverage company estimated that the NotPetya malware outbreak will cost it          more than $150 million in lost sales.

Simple backup is not enough

Ransomware and other forms of malware outbreaks will continue to harm businesses, regardless of their size. Mozy by Dell provides you and your business a second line of defense against ransomware attacks. Mozy cloud backup ensures that your important endpoint files and server data cannot be compromised by ransomware. Due to its unique backend technology, Mozy prevents any execution of code within the files that have been backed up. But simple backup in and of itself is not enough to ensure that your files are protected from ransomware.

Backup from a specific point in time

When a malware infection is involved, restoration of an endpoint or server from a backup works best when you can easily select a moment in time from where to restore. By default, Mozy keeps up to one year of file versions. If you have identified the point of infection (user and file) and the time the malware was introduced to the machine, Mozy can restore all of the files for the given user from the point in time just before the malware was introduced. For example, if the malware was introduced on October 2, you can restore files from the October 1 backup.

By keeping up to one year of file versions, Mozy allows you to restore files from any point in time prior to the attack, meaning your files are accessible when you need them most.

Healthcare data, HIPAA, and ransomware

The Forrester report also predicted that “Healthcare breaches will be as common as retail breaches.” Mozy by Dell protects your electronic protected health information (ePHI) from cyberattacks and helps businesses comply with HIPAA security and privacy rules. In fact, the Mozy service successfully completed an independent HIPAA-HITECH SSAE 16 Type 1 audit, which resulted in a SSAE 16 Type 1 report. To learn more, visit Mozy and HIPAA Security.

Avoiding a ransomware data loss disaster

To learn more about protecting your business-critical data and to access the FAQ, Ransomware and Mozy, and the white paper, Preventing a Rasomware Disaster, visit Mozy by Dell.