Investing in robust backups is crucial for organizations to protect themselves against ransomware attacks, which have become increasingly prevalent and sophisticated. When ransomware attackers gain access to a company’s network, they typically target valuable data and attempt to disable or destroy backups. To counter this, organizations need to implement effective backup strategies that ensure the safety and availability of their data.
One recommended approach is to have robust backups stored in the cloud, separate from the main network. Cloud backups that are disconnected from the network are more resilient to attacks and offer an extra layer of protection. Additionally, companies can utilize tape backups that are less frequent but completely segregated and not accessible via the internet. By keeping backups physically separate from the network, organizations can minimize the risk of ransomware spreading to these critical data sets.
Furthermore, it is crucial for backups to have an additional layer of authentication. If the backups require a separate set of credentials for access, they become more secure against unauthorized access by attackers who have obtained domain credentials. Implementing multifactor authentication for backups can provide an extra layer of defense against ransomware attacks.
Another backup strategy gaining traction is the use of immutable backups. Immutable backups are designed to be unchangeable or irrevocable, ensuring that they cannot be overwritten or erased by attackers. While larger companies have started adopting this approach, smaller and medium-sized businesses often lag behind in implementing immutable backups due to limited awareness or resource constraints. However, in today’s threat landscape, where ransomware attacks are increasingly common and sophisticated, relying on outdated backup technology is no longer sufficient.
A recent analysis by Rubrik revealed that while 99% of enterprises had data backups in place when hit by ransomware, 93% of these organizations faced challenges in effectively using those backups to recover lost data. Obstacles included insufficient data storage, lack of expertise, and inadequate backup coverage across the entire environment. In 73% of the incidents, attackers were able to gain some level of access to backups, either by deleting them or using compromised credentials. This highlights the critical importance of ensuring the proper security of backups to prevent them from becoming compromised during a ransomware attack.
Paying the ransom is often seen as the only option when backups fail or are deleted, as victims desperately seek ways to regain access to their data. However, a Rubrik report indicated that even after paying the ransom, only 16% of organizations managed to recover all their data. This is because ransomware gangs are not particularly skilled or motivated to provide effective decryption tools. As long as their tools provide some semblance of functionality, victims may hold onto hope, inadvertently prolonging the impact and severity of the attack.
It is also worth noting that ransomware attacks typically involve multiple threat actors operating within an ecosystem. Each actor plays a distinct role, such as identifying vulnerabilities, deploying the ransomware, stealing and reselling data, launching additional attacks using stolen credentials, or planting crypto-mining malware. This complex network of actors increases the likelihood of multiple successful ransomware attacks against organizations.
As a result, the number of organizations experiencing multiple successful ransomware attacks has significantly increased. According to Barracuda, 38% of organizations reported two or more successful ransomware attacks in 2022, compared to less than 20% in 2019. This trend is particularly evident in highly sensitive sectors like healthcare and law firms, where attackers perceive a higher potential for monetization.
For organizations still hesitant to invest in robust cybersecurity measures, encryption, multifactor authentication, and backups, assuming they won’t be targeted or that paying the ransom would be more cost-effective, they are mistaken. The dynamics of ransomware attacks have evolved, with attackers becoming more sophisticated and demanding higher ransoms. Organizations that fail to adapt their security practices to mitigate these threats place themselves at significant risk.
In summary, investing in robust backups is crucial for organizations to protect themselves against the increasing prevalence and complexity of ransomware attacks. Implementing strategies such as storing backups in the cloud, utilizing separate authentication, and considering immutable backups can enhance the resilience and security of critical data. By prioritizing these measures and staying vigilant against evolving ransomware threats, organizations can minimize the impact of attacks and safeguard their operations and data.