2019 Datto Ransomware Report Shows an Epidemic Yet MSP Customers not Concerned

Datto just released its 4th Global State of the Channel Ransomware Report with some amazing timing. Just a few days ago Pitney Bowes, located about ten miles away from Datto’s Norwalk, Connecticut headquarters – in Stamford, CT was hit with Ransomware. There are reports the company’s WiFI is out while email and phones are down as well. Many workers have been asked to work at home.

The situation reminds us that a single click can get a company infected.

Back to Datto – here are some of the stats which as you can imagine get worse every year and horrify us to the point where the next year, we look back at today and wish for the simpler and easier times.

Ransomware remains the most prominent malware threat. In 2019, 85% of MSPs report ransomware as the most common malware threat to SMBs.

  • In the first half of 2019 alone, 56% of MSPs report attacks against clients. 15% of MSPs report multiple ransomware attacks in a single day.
  • On average, 1 in 5 SMBs report that they’ve fallen victim to a ransomware attack. SMBs who don’t outsource their IT services are more at risk.*
  • When it comes to the ransomware threat, there is a disconnect between MSPs and SMBs. 89% of MSPs are “very concerned” about the ransomware threat and 28% report their SMB clients feel the same.
  • MSPs rank phishing emails as the leading cause of successful attacks. Lack of cybersecurity training, weak passwords, and poor user practices are among the other top causes.
  • The aftermath of a ransomware attack can be a nightmare for any business. Nearly half of MSPs report victimized clients experienced business-threatening downtime.
  • The average ransom requested by hackers is increasing. MSPs report the average requested ransom for SMBs is ~$5,900, up 37%, year-over-year.
  • Downtime costs are up by 200% year-over-year, and the cost of downtime is 23X greater than the average ransom requested in 2019.
  • 92% of MSPs report that clients with BCDR solutions in place are less likely to experience significant downtime during a ransomware attack. 4 in 5 MSPs report that victimized clients with BCDR in place recovered from the attack in 24 hours, or less.
  • SMBs aren’t the only businesses being targeted by hackers. 4 in 5 MSPs agree that their own businesses are being increasingly targeted by ransomware attacks.

The biggest concern here is the people tasked with keeping business safe from malware and infections, the MSPs are almost all (89%) concerned about ransomware while just over a quarter (28%) feel the same.

It’s not a good situation and we hope these businesses will take the necessary steps to protect themselves in the event of infection.

Attentions IT and MSPs:

Come and learn about the latest in everything business tech… Cybersecurity, Collaboration, UCaaS, the Channel, IT, IOT, Edge, AI, and the Future of Work at the world’s only MSP Expo part of the ITEXPO #TechSuperShow, Feb 12-14, 2020 Fort Lauderdale, FL.

 

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