Mitigate cyber risks with a proactive approach

Mitigate cyber risks with a proactive approach

Typetec research shows over half of Irish SMEs have paid a ransom to a cybercriminal

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28th November, 2021

The frequency of cybersecurity attacks has increased dramatically over the last couple of years, particularly ransomware. Lack of cybersecurity training, outdated security practices and reduced visibility of devices are some of the many reasons for the rise in these attacks.

Regardless of how large or small it is, no business is immune to falling victim to a ransomware attack. To understand how widespread this problem is in Ireland, Typetec recently conducted a survey of 200 small and medium-sized business owners. The independent research identified the scale of the problem at present. The survey found that a staggering 52 per cent of SMEs have paid a ransom to a cybercriminal, averaging at €22,712 for each business.

These attacks can be crippling to businesses and lead to loss of personal data, money, and reputation: moreover, paying a ransom does not guarantee that data will be restored. The research found that more than a quarter (27 per cent) of those businesses that paid a ransom failed to get all affected data back. Additionally, 60 per cent of business owners reported that sensitive data had been leaked on the dark web despite paying a ransom.

These numbers indicate a serious problem, one that needs to be tackled sooner rather than later. Typetec, one of Ireland’s leading managed IT service providers has developed a holistic approach to security assessments using the Nist cybersecurity framework. This provides an accurate reflection of the true security posture of an organisation. Businesses should at the very least be conducting a ransomware readiness assessment to evaluate their preparedness in the event of an attack.

The cybersecurity landscape is constantly evolving, and it is critical that every organisation has a well-managed cybersecurity strategy, particularly in an increasingly hybrid working world. Being proactive and prepared will help to deliver the reassurance your business, customers and employees need in an increasingly challenging threat landscape.

For details contact Typetec T: 01 500 9001. E: [email protected]

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