7 Key Stats: Ransomware in the Channel

Ryan Weeks, Chief Information Security Officer, Datto, Inc.
Author: Datto CISO Ryan Weeks

Datto recently surveyed nearly 1700+ MSPs who serve more than 100,000 small-to-mid-sized businesses around the world. We published the key findings in Datto’s 2nd annual State of the Channel Ransomware Report. By surveying our partners - our greatest resource - we gathered a wealth of information and knowledge. With this data, we are hoping to provide the IT Channel with a new perspective on the ransomware epidemic by highlighting the prevalence, behaviors, turrets, and impact on SMBs.

Here are seven quick ransomware stats from Datto’s State of the Channel Ransomware Report that all businesses should know:

  1. More SMBs are reporting attacks (1 in 3), whereas in the year prior MSPs said fewer of their clients reported attacks to authorities.
  2. The total cost of ransom paid to hackers in 2017 was $301M. Of those victims that pay up, 15 percent still never recover the data.
  3. The ransom isn’t what breaks the bank. The downtime and data loss cut the deepest. As a result of a ransomware attack, 75 percent of MSPs report clients experienced business-threatening downtime.
  4. Nearly 30 percent of MSPs report ransomware remained on an SMB’s system after the first attack and struck again. One in three MSPs reported ransomware encrypted a backup, making recovery more complex.
  5. Among those verticals that are targeted most by ransomware attacks are Construction, Manufacturing and Professional Services. When it comes to ransomware awareness, the majority are still in the dark.
  6. While 90 percent of MSP respondents cited they are “highly concerned” about the business threat of ransomware, only 38 percent of SMB clients felt the same. This could be due to the lack of mandatory cybersecurity training across SMBs, which MSPs cite as the leading cause of ransomware infections.
  7. Ransomware outsmarts today’s top security solutions, so backup is essential. MSPs are reporting successful infections despite SMBs having Anti-Virus Software, Email/Spam Filters, Ad Blockers, and regularly updated applications. The #1 most effective means for business protection from ransomware is a backup and disaster recovery (BDR) solution followed by cybersecurity training. With a reliable BDR solution in place, 96 percent of MSPs report clients fully recovered from ransomware attacks.

For more stats like these, check out the full report: Datto’s Global State of the Channel Ransomware Report. The report features new statistics and forecasts on ransomware and its impact on businesses, the leading variants and targets of these attacks, best practices for ransomware protection, and more. Check it out!

Ryan Weeks is chief information security officer at Datto Inc. Read more Datto blogs here.