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Nearly one-third of data backups fail after a ransomware attack | #ransomware | #cybercrime


Cloud’s sky-high success rate

Cloud backup architecture’s 80% successful recovery rate is around 1.5 times better than offsite backups, At-Bay reported.

Further, organizations with offsite backups paid ransoms 2.5 times more often than those that used cloud backups.

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Best-practices for building a data backup strategy

The following four tips from At-Bay can enhance any backup strategy, which can go a long way in helping a business recover from a cyberattack.

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1. Know how the systems work together

Simply copying troves of data and putting them into one or two repositories isn’t enough, according to At-Bay, which noted cataloging and categorizing how the entire system works together is a vital step. Haphazardly dumping data can slow down the restoration process as IT staff works to determine what applications interact with the data.

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2. Put strong password protection policies in place

Hackers can target the accounts used to maintain backups, making it critical that organizations go above and beyond when protecting the passwords and other credentials for these accounts. To this end, At-Bay recommends setting up a separate account in Active Directory with more stringent password.

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3. Obtain the bandwidth you need

When restoring from the cloud, a fast internet connection is of utmost importance. Slow speeds can cause serious lag on a business’ restoration process. At-Bay noted it is important to remember that data can only move at a certain speed, and relocating terabytes of data over Ethernet can take days or weeks.

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4. Regularly test the backup’s integrity

Perform restoration tests to make sure the backup is in good working order and the files are complete.

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Although 92% of businesses have backed their data up, be it on-site, offsite or in the cloud, more than 1 in 4 (31%) businesses reported were unable to restore their data following a ransomware attack, according to At-Bay, Inc.

The claims cost for businesses that fail to restore their data is $190,000 higher, on average, compared with organizations that successfully restore data.

The ability to successfully restore data following a ransomware attack can reduce the overall cost of a cyber incident by as much as 41%, according to the insurance agency and surplus lines broker. Organizations that successfully restore their data are three times less likely to pay a ransom demand.

“There aren’t many security professionals who get excited about data backups and the different types of solutions that are available on the market,” Rotem Iram, CEO and co-founder of At-Bay, said in a release. “But it turns out, some backup solutions are far more effective than others — and if a business chooses right, the likelihood of them paying a ransom could go down by as much as three times.”

Based on a review of its claims data, At-Bay found that cloud backup architecture offered the highest likelihood of successful data restoration. Companies using cloud backups had a recovery rate of 80%.

The above slideshow offers more insights into how the different backup architectures stack up and provides some best practices to put in place when developing a strategy for backing up data.

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