Ransomware. CEOs fear it. IT teams fight it. Customers worry about it. Even politicians talk about it now. Ransomware attacks have soared to astronomical levels over the last twelve months. In fact, the uptick has been so significant that the second quarter of 2021 alone marked the highest volume of attacks ever recorded in history.
Attacks are both expanding and evolving. The FBI reports that there are 100 different ransomware strains now circulating around the world. Hackers are now not only encrypting and deleting backup data, but exfiltrating it and releasing it to the public if ransoms aren't paid. For instance, when the Washington D.C. Police Department agreed to pay only $100,000 of a $4 million demand, the ransomware gang Bubak began to leak sensitive police files, including information on police personnel, informants and gang activity.
Threats to the business
Cyber criminals continue to launch ransomware attacks because it is easy and profitable. First, with "ransomware as a service" offerings, the attacker does not need to be a master hacker. Second, with remote work and the global adoption of SaaS applications, the modern business now has data sprawled everywhere, which creates more areas to attack. Third, businesses are simply deciding to pay ransoms to prevent further disruption and sensitive data leaks.
And the numbers don't lie. According to research from IDC, only 13 percent of organizations avoided paying a ransom after suffering a ransomware attack or breach. On top of that, the total cost of recovery from a ransomware attack has doubled in the last year to more than $1.85 million. This figure is only expected to increase as cyber criminals continue to get their way - and it's not the solution to keeping data out of hackers' hands in the future.
As ransomware attacks run rampant, privacy regulations are becoming more stringent. U.S. states such as Colorado, Virginia and Nevada are quickly following California's lead by passing their own privacy laws. The jumble of different requirements and policies make it more confusing and difficult for companies to comply, but the consequences of non-compliance are almost as devastating as a ransomware attack. Failures lead to damaged corporate reputations, lost business opportunities and large fines.
A legacy approach just won't cut it
Organizations cannot solve modern security and compliance challenges with their existing approach to data protection. Most teams are stitching together up to seven different vendors to address their protection requirements. Since those components were designed for on-premises environments, they cannot scale to meet modern cloud requirements. Furthermore, the traditional approach of throwing people at the problem does not work. IT teams are struggling to keep pace with regulations and attacks because they are understaffed due to a global talent shortage. In fact, we're facing one of the most prominent cybersecurity skills shortages in recent history, with roughly over 3 million unfilled positions, according to ISC2.
Businesses need to do more with less through a cloud experience that can manage and streamline protection and solve today's modern data challenges automatically and securely. A modern solution will break down silos, scale quickly and enhance cyber resilience with a transparent and predictable commercial business model. Anything less will not succeed.
Enhancing resiliency through the cloud
Druva is disrupting a decades-old legacy hardware-based business model with radical operational simplicity that utilizes deep-learning and automation to advance an organization's data, cyber and operational resilience. Delivered via a single platform, the Druva Data Resiliency Cloud ensures data protection, compliance, recovery and resiliency, no matter where the data lives.
Designed with a security-first architecture, the Druva Data Resiliency Cloud positions teams to recover data rather than just trying to make a backup, puts a stop to ransomware attacks before they spread and protects data against emerging threats. Its multi-cloud control pane provides a control point for protection, governance and compliance for data spread across cloud and hybrid workloads and SaaS applications. The platform's autonomous protection minimizes management and improves performance, which frees up more time for IT to focus on higher level projects that deliver business value.
A cloud-native architecture can offer economies of scale and pricing simplicity that is not possible through an appliance-centric solution. Druva's customers pay one cost for protecting and recovering their data; there are no hidden fees or unexpected bills.
The Druva Data Resiliency Cloud shifts data protection from passive to active, leaving businesses empowered and prepared for whatever comes their way next.
