The threat of ransomware in 2020 remains the biggest risk for SMEs as we near the end of 2019. In fact, businesses in Europe are targeted more than organisations in any other part of the world.
The costs amassed as a result of ransomware attacks is expected to rise to $20 billion by 2021. This is up from $11.5 billion in 2019. In terms of security and financial losses, the Wannacry attack was widely regarded as a wake-up call for many SMEs who were badly hit.
Attackers target SMEs because they expect them not to have proper protections in place. They are wise to the fact that many SMEs view cyberattacks as a faraway concept that is unlikely to hit them personally.
But this could not be further from the truth as ransomware in 2020 is due to step up a notch. New research released this year said a quarter of SMEs would collapse if they were unable to trade for a month. Another reason SMEs are often easier to extort is because attackers ask for small payments. This raises less suspicion than asking a conglomerate for a larger sum.
Several factors enable the success of a ransomware attack from internal user errors to a lack of sophisticated protection. The fact is that businesses are at their most vulnerable when the necessary IT protections are not in place to prevent it.
This is the ideal moment to plan and take stock of your IT security system.
Ransomware can be a sleeping threat inside your system for months at a time. This is why periodic security reviews are so vital to the overall health of your organisation.
A new year will bring new risks and even more sophisticated hacking techniques, but maintaining a robust, up-to-date security infrastructure will protect you from the risks ahead.
Net-Defence will carry out a security review followed by a security refresh, depending on your review results. By following a series of thorough diagnostic solutions, we will ensure that your business is adequately protected.
Step into 2020 knowing your organisation and your customers can sleep soundly at night.
Contact us on 0330 024 1666 or email us to find out more about the services we offer or to book a planning meeting.