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The challenge

Ransomware attacks represent a serious threat to organizations across multiple industries worldwide. A new organization fell victim to ransomware every 14 seconds in 2019 and will fall victim every 11 seconds in 2021 according to Cyber Security Ventures. Ransomware cost has risen into the tens of billions of dollars per year, with prices continuing to grow for the foreseeable future. These costs include the cost to remediate attacks, cost of downtime and the actual ransom cost. While health care organizations have been the most publicized victims, this is a growing threat across all industries and governments.

Even though ransomware has been around since 1989, there’s been a recent surge in attacks. The average cost of data breaches entered the hundreds of millions of dollars in 2020 according to Juniper Research. With damage related to cybercrime set to hit $6 trillion by 2021, investing in security spending should be a priority for 2019 according to PhoenixNAP Global IT Services. Some common encryption ransomware programs include CryptoWall, Locky and TorrentLocker, which encrypt data on the attacked system and demand ransom in exchange for the key to unlock it. Lenovo Some common lock screen ransomwares are FakeBsod and Brolo, which lock screens and demand payment to unlock them.

These threats are becoming more frequent and complex. So, organizations should ensure that they adopt common best practices for data protection, Veeam like the 3-2-1 Rule. This means having three copies of your data on two different types of media with one copy offsite. In addition, performing regular risk assessments should be part of your overall data protection strategy to proactively identify potential risks as well as verify that your data is recoverable and can be restored quickly and easily with Lenovo.

The solution

While Veeam® doesn’t prevent ransomware, Veeam’s solution for ransomware includes advanced features that are native to Veeam Availability Suite™. This enables companies to quickly and effectively restore critical data infected by ransomware to a known state.

To read full download the whitepaper:

Countering ransomware with Veeam + Lenovo

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