Security News > 2024 > January > Safeguarding against the global ransomware threat
Sponsored Feature Ransomware is used by cybercriminals to steal and encrypt critical business data before demanding payment for its restoration.
Sterling Wilson, Data Resilience Strategist at Object First - the provider of Ootbi, the ransomware-proof backup storage appliance purpose-built for Veeam - believes that data is one of the most precious assets available, and as such, must be tightly protected.
"Due to its potential ability to bring the UK to a standstill, ransomware has been identified by UK authorities as the number one cyber threat to the nation," the report read. "A mature and complex ecosystem has evolved, involving an increasingly sophisticated threat actor; ransomware is also now marketed as a service, which can be purchased by the uninvolved e.g., criminal gangs, making it more widely available to those who wish to inflict harm for profit. Past attacks have shown that ransomware can cause severe disruption to the delivery of core government services, including healthcare and child protection as well as ongoing economic losses."
Lindy Cameron, CEO of the UK National Cyber Security Centre, which is part of GCHQ, adds that ransomware can be "Truly devastating" for victims: "Attacks can affect every aspect of an organization's operation, hitting finances, compromising customer data, disrupting operational delivery, eroding trust and damaging reputations. The impact will be felt in the short and long term, particularly when organizations are unprepared. Recovery is often lengthy and costly."
According to Veeam's 2023 Data Protection Trends Report, 85 percent of global organizations have suffered at least one cyberattack in the preceding twelve months; an increase from 76 percent experienced in the prior year.
Recognizing the critical importance of deploying a robust on-premises and immutable storage solution to ensure secure backup storage and resilience against ransomware attacks, Prodatix teamed up with Object First in 2022 as a beta partner.