#Percent small business ransomwhere full

Perhaps most alarming was this revelation: Only 40 percent of the survey respondents said their current cyber-defense technology was capable of identifying and blocking most cyber attacks. Hackers were the cause in 37 percent of the cases, up from 33 percent during the prior year. The most common cause of a data breach was a negligent employee or contractor (60 percent, up from 54 percent in 2017).The study found that 70 percent of SMBs paid ransoms in 2018 to unlock their data files (up from 60 percent in 2018) and that the average ransom payment was $1,466. More SMBs are making hacker ransom payments.The report identified a surge of ransomware attacks 61 percent of respondents said they’d experienced either a successful or unsuccessful ransom attempt within the last year or longer, up from 52 percent in 2017.The IT professionals surveyed said 2018 cyber attacks against their firms were more “targeted, severe, and sophisticated” than in the past (62 percent, 60 percent, and 59 percent, respectively).According to Ponemon, the average number of individual business records lost to cyber incidents in 2018 was 10,848, an increase from the average of 9,350 in the prior year’s study.The evidence of an SMB cyber crisis is everywhere. Companies also suffered an additional $1.56 million in losses due to disruption of normal operations, representing a 25 percent increase from $1.21 million in 2017. But those were just the direct costs of cyber hacks and breaches. The Ponemon study found that SMBs spent an average of $1.43 million to investigate and remediate cyber incidents in 2018, up 33 percent from $1.03 million in 2017. But the financial impact of such incidents should put SMB owners-you-on high alert. The fact that roughly two out of three SMBs suffered an attack or breach last year is alarming enough. and U.K IT professionals in firms with 100 to 1,000 employees. The Ponemon report was based on a survey of U.S. These results were up from 61 percent and 54 percent, respectively, in 2017.

#Percent small business ransomwhere full

It’s important to keep that in mind not only during October 2019’s National Cybersecurity Awareness Month, but also during every month of the year.Īlso important is taking full advantage of third-party cybersecurity assistance, including comprehensive cyber liability and data breach insurance from Gallagher Affinity Insurance Services.Īccording to the Ponemon Institute report, “ The 2018 State of Cybersecurity in Small and Medium Size Businesses,” 67 percent of small- to medium-sized (SMB) companies experienced a cyber attack in 2018, while 58 percent suffered a data breach. take appropriate defensive actions!Ĭyber crime and accidental data breaches happen to small-and medium-sized businesses (SMBs) every day. There's no better time than National Cybersecurity Awareness Month to consider your firm's cyber risks.