Photo credit: betanews.com

Ransomware Attacks Persist as Firms Struggle to Defend Against Cyber Threats

Recent research covering nearly 1,000 organizations across various sectors reveals a troubling trend: many companies are caught in a continuous cycle of ransomware attacks, which is proving to be a significant issue in the realm of cybersecurity.

The study conducted by Semperis highlights that 39 percent of firms in the US, UK, France, and Germany experienced extortion demands multiple times in the last year, indicating that this is not a one-time threat but rather an ongoing challenge.

Moreover, over 80 percent of ransomware incidents compromised critical identity systems, such as Microsoft Active Directory (AD) or Entra ID. Alarmingly, only 27 percent of surveyed organizations reported having a dedicated recovery plan for these systems in case of an attack.

“For management and the Board to make an informed choice about not succumbing to ransom demands, they must understand the recovery timeline and feel assured in the strategy. This requires testing recovery plans in realistic scenarios and presenting these plans to the Board before a crisis arises,” explains Mickey Bresman, CEO of Semperis. “Being prepared empowers decision-makers to confidently refuse ransom payment when the situation demands.”

The findings indicate that 87 percent of ransomware incidents led to significant business interruptions, even among those who opted to pay. These disruptions included data loss and the necessity to take systems offline. Worryingly, for 16 percent of those surveyed, the situation was so severe that it resulted in life-or-death decisions.

Paying the ransom does not always restore normal business operations, as 35 percent of those who complied did not receive usable decryption keys or received corrupted ones, complicating their recovery efforts. Additionally, 49 percent of respondents took between one and seven days to restore minimal IT functionality after an attack, while 12 percent faced recovery periods extending beyond seven days.

“Given the constant threats organizations face today, asserting that one is ‘safe’ is unrealistic. Continuous vigilance is essential. The most prudent approach is to ensure your environment is defensible and effectively defend it,” comments Chris Inglis, Semperis strategic advisor and the inaugural US National Cybersecurity Director.

For those interested in a more detailed exploration of these findings, the full report can be accessed on the Semperis website.

Source
betanews.com