The Impact of Cyberattacks is Massive

It seems as though a day does not go by without hearing of some new cyberattack, worse than any one before, of course. It's a problem and there seems to be absolutely no end in sight. 

In a recent survey IT service providers by data protection solution Datto revealed today that 91 percent of respondents reported having their clients victimized by ransomware in the past twelve months.

What's worse is that some 40 percent reported more than half-a-dozen separate attacks during the same time frame. In the United States, these attacks cause $75 billion in damages to small and medium-sized businesses, with downtime from ransomware often costing businesses more than $8,500 per hour. 

“Ransomware is not about a couple of hacker kids sitting in the basement and messing around,” said Austin McChord, Datto’s CEO. “It’s a major enterprise orchestrated by large and well-funded companies, and it’s becoming a massive problem for businesses, regardless of industry or geographical location. ” 

Additional highlights of the survey include: 

63 percent of survey respondents mentioned that a ransomware attack led to business-threatening downtime
31 percent of respondents replied that they experienced multiple attacks in a single day
The average ransom demanded ranges between $500 and $2,000


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