Page 119 - Cyber Defense eMagazine June 2020 Edition

Mitigating Against Ransomware: Don’t Let Backups Be

the Back Door

By Rick Vanover, Senior Director, Product Strategy, Veeam

The damage ransomware can inflict on businesses is staggering. For businesses who feel they have no
choice but to pay cybercriminals in order to unlock their files, they not only put their money at risk, but
also put their reputation at stake. According to a report produced by Cybersecurity Ventures, global
ransomware damage costs are predicted to cost upwards of $20 billion in in 2021.

While the best remedy for a ransomware attack is prevention, in the prevailing threat landscape that isn’t
always possible. The same Cybersecurity Ventures study forecasts that an organization will fall victim to
a ransomware attack every 11 seconds in 2021. Ultimately, almost all computer systems are fallible to
breach. So, businesses must be prepared for the reality of relentless cyber-attacks and have a
contingency plan in place should the worst happen.

Having offsite and offline backups and robust disaster recovery capabilities can help businesses restore
data that has been encrypted by attackers. However, the risks and possibilities of ransomware are varied.
So, businesses need a plan for prevention and ensure their backup data cannot be used against them.

Cyber Defense eMagazine –June 2020 Edition 119
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