Quick Intelligence Blog

(Updated from September 29, 2021)

If you believe your company is too small to be targeted by cybercriminals, think again. Due to their lack of substantial cyber security budgets, small businesses are often viewed by hackers as “low hanging fruit,” or easy targets. Statistics confirm this as well.

Your company's network and data are accessible via endpoints. Desktops, laptops, smartphones, tablets, servers, workstations, and even Internet-of-things (IoT) devices are examples of endpoints. Securing those endpoints is important as a lot of data ends up going through those endpoints.

(Updated from November, 19th 2021)

If you are starting a new business, you want to get on the Internet. Businesses like yours get on the Internet for many reasons, but the most basic one is that to gain and retain customers, you need to have an Internet presence. There is a risk associated with having an Internet presence. Whether you have an informational website, an eCommerce website, or are transferring data through the cloud, the benefits of being online do come with some risks.

In general, resilience refers to the ability to bounce back quickly after adversity. Cyber resilience refers to being able to quickly recover from a cyber security challenge. In today’s cyber world, companies that are cyber resilient are the ones who will continue to thrive.

Many organizations feel that being prepared for a ransomware attack is futile. This couldn’t be further from the truth as told by BleepingComputer. Their article about the REvil ransomware attack on Kaseya VSA customers mentioned that many victims refused to pay the ransom. The reason: Backups!

The growth of ransomware continues, leaving many cybersecurity experts to wonder if there will ever be an end? The numbers for 2021 do not paint a good picture. Sophos says the average ransomware payment has increased to $812,260 compared with the 2020 average of $170,000. Worse still, the number of ransoms over $1 million has risen to 11% up from 4% in 2020.

One of the biggest stories in cybersecurity has been the big increase in ransomware attacks. Even though ransomware is not a new threat, it seems that attacks are happening more frequently. Barracuda researchers reported that they’ve identified and analyzed 121 ransomware incidents so far in 2021, which is a 64% increase in attacks. The ransom demands are also getting bigger, with Palo Alto Networks’ Unit 42 finding the average ransomware payment had risen to $925,162.00 during the first 5 months of 2022. That is up 71% from 2021.

Businesses tend to think about insuring against typical things like theft, floods, and fire. Has your business ever considered insuring its data against theft? How about insuring your business against cyber attacks?