Introduction to Study of 1,000 Unbiased IT Leaders
Over 1,000 IT professionals and decision-makers whose organizations were struck by ransomware in 2021 were surveyed by an independent research firm regarding the cyberattacks, as well as the technologies and roles involved. The respondents were from 16 countries and employed by companies of all sizes from APJ, EMEA, and the Americas.
The research conducted is Veeam's first in-depth analysis of ransomware-related issues, as well as forward-facing prevention and remediation strategies. The research developed into a survey to better understand the threat to the organization, a close look at the causes, tactics, and pervasiveness of the attacks, as well as the technologies used prior and after the attack.
For respondents to participate in the research, their organization had to have suffered at least one ransomware attack in 2021. Most companies experienced attacks more than one in the calendar year.
Most notable among the statistics was that the ransomware encrypted about half (47%) of an organization's data - and organizations were only able to recover less than 70% of the encrypted data. Other findings showed that while 52% of organizations paid the ransom and were able to recover data, 24% paid but could not recover, while 19% did not pay but could recover. That last truth is core to Veeam's focus: to enable far more organizations to recover without paying cybercriminals.
The Ransomware Trends Report
Veeam, a US company headquartered in Columbus, Ohio, is the leader in backup, recovery, and data management solutions that deliver Modern Data Protection. It provides a single platform for Cloud, Virtual, Physical, SaaS, and Kubernetes environments.
Veeam is the global leader in data protection. With over 450,000 customers worldwide, it ranks #1 in data protection market share, with 81% of the world's Fortune 500 companies utilizing Veeam for protection services. Veeam protects the world's biggest brands, including Fujitsu, Shell Corporation, Deloitte, Staples, Jose Cuervo, and so many more from every industry of business imaginable.
Veeam contracted with an independent research firm to survey 1,000 unbiased organizations that had suffered cyberattacks - and then provide exclusive use of the research data to Veeam. The Veeam 2022 Ransomware Trends Report is the largest study of its kind on data protection trends and ransomware effects around the globe. Most analyst research is based on surveys of 200 to 300 firms and often in one or a few geographies. The study published by Veeam is an unprecedented look into the most important data protection trends in the market today.
The Inescapable Presence of Ransomware Attacks
According to another independent research study, , the Veeam 2022 Data Protection Trends report, 76% of the 3,393 surveyed organizations suffered at least one ransomware attack. Businesses were not attacked based on size. Small-to-medium-sized companies (100-249 employees) and large enterprises (>5,000 employees) exhibit similar persistence of attacks. No company will remain undetected by these attackers.
Phishing emails, malicious links, or websites with questionable foundations often initiate cyber-attacks. Awareness of these crimes continues to heighten year after year. Yet, these attackers still seem to use the most common entry points to hack organizations and continually compromise their data.
Thoughts from the Data Protection Experts
"Ransomware has democratized data theft since targeted data only needs to have enough value to the victims that they're convinced to pay ransom to recover that data. This ransomware model has been successful despite increased investments in defensive security technologies. Veeam believes that secure backup is your last line of defense against ransomware. Our software-defined approach means there is no lock-in into proprietary hardware, and it works with your existing architecture, both on-premises and in the cloud. Veeam is committed to helping you minimize downtime and data loss so that you never have to pay a costly ransom." (Veeam 2022 Ransomware Trends Report https://vee.am/RW22)
Pay the Ransom or Recover the Data
According to the Veeam 2022 Ransomware Trends Report, 52% of companies paid the ransom and successfully recovered their data. Yet, one in four companies that produced the ransom said that they were still unable to recover the data lost. 24% did not retrieve any data after paying the ransom, while 19% of companies never paid the ransom and were still able to recover their data. Veeam's goals are to expand that 19% to a much greater percentage of the businesses attacked. Veeam's data protection services allow companies to bypass paying ransom sums and go straight to recovering data so they can move on from these attacks unscathed.
94% of attackers focus on destroying backup repositories, and removing an organization's recovery lifeline heightens the likelihood that organizations will have no choice but to pay the ransom. To avoid this scenario, the data protection framework must contain at least one immutable or air-gapped tier - which was present for 95% of those surveyed. Most organizations have some immutability or air-gap media on their disk, cloud, and tape strategies. ("Cybersecurity Research: 76% of Organizations Admit to Paying Ransomware Criminals, with One-Third Still Unable to Recover Data")
Other learnings from 1,000 IT leaders
1. "Sandbox" Remediation: IT teams proactively validate and recover their backups to ensure their servers are restorable, with one in six (16%) automating this process. To safeguard their restored data and ensure it's clean before reintroducing the systems into production after a ransomware attack, 46% of respondents use a "sandbox" or staging/test area.
2. Repository Diversification: 95% of organizations have at least one immutable or air-gapped data protection tier; 74% make use of cloud storage that is immutable; 67% make use of on-premises storage that is immutable or locked, and 22% make use of air-gapped tape. In addition to disk repositories, organizations highlighted that 62% of their data is stored in the cloud and 45% on tape.
Download the complete Veeam 2022 Ransomware Trends Report here.
About Veeam Software
Veeam® is the leader in backup, recovery and data management solutions that deliver Modern Data Protection. The company provides a single platform for Cloud, Virtual, Physical, SaaS and Kubernetes environments. Veeam customers are confident their apps and data are protected from ransomware, disaster and harmful actors and are always available with the most simple, flexible, reliable, and powerful platform in the industry. Veeam protects over 450,000 customers worldwide, including 81% of the Fortune 500 and 70% of the Global 2,000. Headquartered in Columbus, Ohio, with offices in more than 30 countries, Veeam's global ecosystem includes 35,000+ technology partners, resellers and service providers, and alliance partners. To learn more, visit veeam.com or follow Veeam on LinkedIn and Twitter
Works Cited
YouTube, https://www.veeam.com/veeam_ransomware_trends_report_2022_wpp.pdf. Accessed 5 July 2022.
"Cybersecurity Research: 76% of Organizations Admit to Paying Ransomware Criminals, with One-Third Still Unable to Recover Data." Veeam, 17 May 2022, https://www.veeam.com/news/cybersecurity-research-76-of-organizations-admit-to-paying-ransomware-criminals-with-one-third-still-unable-to-recover-data.html. Accessed 5 July 2022.
"2022-data-protection-trends-report_wpp.pdf." Veeam, https://www.veeam.com/2022-data-protection-trends- report_wpp.pdf. Accessed 5 July 2022.
