Understanding the ransomware landscape
Ransomware is a billion-dollar industry in the cybercriminal underworld. From sophisticated supply chains to double extortion tactics, ransomware attacks are getting increasingly targeted, especially with MSPs. Why? Because threat actors know that if they compromise an MSP network, they can spread to all their clients.
To understand the landscape at a high level, here are some ransomware FAQs:
Does insurance cover ransomware?
Sometimes, but don’t bet on it. Many insurers will only cover ransomware attacks if there are no lapses in security hygiene.
Is it possible to recover files from ransomware?
Again, sometimes, but also, don’t count on it. Decryptors can work, but are also hit or miss. Even if they do “work,” recovery is a slow and painful process.
Should you pay the ransomware to recover your data?
Never. Not only does paying the ransom grow cyber criminal enterprises, but it also doesn’t guarantee the return of your data or that it won’t be publicly leaked. After all, we’re dealing with untrustworthy criminals.
What company has been most affected by ransomware?
In 2021, REvil exploited Kaseya via its remote monitoring tool. The ransomware attack affected 1,500 other businesses, which is why MSPs should pay attention.
Ransomware is a rapidly evolving and highly lucrative threat, especially for MSPs who hold the keys to their clients’ networks. With attackers increasingly targeting MSPs for their broader reach, it’s crucial to have a robust security posture in place. Prevention, preparation, and rapid response are the best defenses against becoming the next victim of this growing threat.