{"id":72922,"date":"2022-11-07T13:00:00","date_gmt":"2022-11-07T18:00:00","guid":{"rendered":"https:\/\/serviceexpress.com\/uk\/?p=72922"},"modified":"2024-10-09T20:07:09","modified_gmt":"2024-10-09T19:07:09","slug":"why-a-typical-disaster-recovery-plan-isnt-enough-to-defeat-ransomware","status":"publish","type":"post","link":"https:\/\/serviceexpress.com\/uk\/resources\/why-a-typical-disaster-recovery-plan-isnt-enough-to-defeat-ransomware\/","title":{"rendered":"Why a typical disaster recovery (DR) plan isn\u2019t\u00a0enough to defeat ransomware"},"content":{"rendered":"\n
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A simple backup option may not be enough to rescue your business. <\/p>\n\n\n\n

There\u2019s been an explosion in ransomware activity over recent years, up 715% across the twelve months ending June 2020<\/a>. Analysts point to the increase in remote working and insecure Wi-Fi connections as key factors for this boom in cyberattacks. <\/p>\n\n\n\n

Thankfully, Service Express has the expertise to expand your DR strategy to include a vital component shielding your business from the worst outcomes of a ransomware attack. <\/p>\n\n\n\n

Here in the information age, where data is regarded as \u201cthe new oil,\u201d a cybersecurity breach can cause widespread financial losses and even result in bankruptcy. <\/p>\n<\/div>\n\n\n\n

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The looming risks for finance, retail and healthcare <\/h2>\n\n\n\n

\u201cThere are increasing attacks on production systems and their backups. If you\u2019ve only got one copy of production data and you\u2019re in the financial industry, that will hold your only copy of client and transaction records. If it gets attacked, encrypted or stolen, and you have no secondary backup, then you will be at the mercy of whoever attacked you.\u201d <\/p>\n\n\n\n

When it comes to banks, fintech and other highly regulated organisations, inadequate protection can land you in trouble with the regulators as well as lose you significant amounts of money. <\/p>\n<\/div>\n\n\n\n

\u201cThe Prudential Regulation Authority (PRA) regulates and supervises the UK\u2019s financial sector. You must meet their requirements. Not only have you been attacked, and the data gets encrypted or stolen, but there\u2019s a lot of brand damage. Customers might not trust you. You\u2019re going to lose a lot of money, and it will be quite a public event. There was an increased focus on healthcare during the pandemic. Valuable data such as medical records caused an increase of ransomware aimed at the NHS and other healthcare providers.\u201d <\/p>Product Manager at Service Express<\/cite><\/blockquote><\/figure>\n\n\n\n

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Small and medium businesses are often exposed <\/h2>\n\n\n\n

Ransomware attacks are up against small and medium businesses because they can\u2019t or haven\u2019t invested in the level of cybersecurity that protects both production and backup environments. <\/p>\n<\/div>\n\n\n\n

There\u2019s understandable reluctance from ransomware victims and negotiators to disclose payment amounts. According to IBM\u2019s Definitive Guide to Ransomware 2022<\/a>, ransom amounts have gone from small double-digit demands to jaw-dropping seven-figure and eight-figure amounts. <\/p>\n\n\n\n

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The rise of ransomware, in numbers <\/h2>\n\n\n\n

The following statistics may be chilling reading for those looking after IT infrastructure, but we\u2019re on hand to provide advice for those seeking to boost their cybersecurity. <\/p>\n\n\n\n