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Businesses Urged Not To Pay Cyberattackers

Businesses Urged Not To Pay Cyberattackers (Trends, Reports, Analysis)

Nearly half of the small businesses surveyed by Hiscox last year said they had been targeted by at least one cyberattack, while 44 percent said they were hit by between two and four attacks. Small and medium-sized businesses coughed up a total of $301 million to ransomware attackers in 2016 to regain control of their computers, according to analysis from Datto’s 2017 “State of the Channel Ransomware Report.” In a survey of 1,700 managed service providers (MSPs) that work with a combined 100,000 SMBs, Datto found that 99 percent of respondents agree ransomware attacks will probably pick up this year and next. Dale Shulmistra, president of Invenio IT, said that the most effective strategy to not only protecting a small business against a ransomware attack, but ensuring that downtime is as minimal as possible, is to regularly back up data. CyberEdge Group’s 2018 Cyberthreat Defense Report found that, while 55 percent of businesses were hit by a ransomware attack last year, only 19 percent paid the ransom.

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