News Survey Report

Ransomware Victims are Unable to Recover 43% of Affected Data

Veeam

“By aligning teams and bolstering cybersecurity with immutable backups, they can protect their valuable business data while Veeam keeps their business running and secure.” 

Dave Russell, Senior Vice President, Head of Strategy, Veeam.

Results of the Veeam 2024 Ransomware Trends Report conclude that cyberattacks not only impact organizations but have a negative human impact, as 45% of individuals cite increased workloads and 40% experience heightened stress levels post-attack. As per the report, Ransomware remains an ongoing threat for organizations and is the largest single cause of IT outages and downtime as 41% of data is compromised during a cyberattack. The report reveals that only 57% of the compromised data will be recovered, leaving organizations vulnerable to substantial data loss and negative business impact as a result.

“Ransomware is endemic, impacting 3 out of 4 organizations in 2023. AI is now enabling the creation of smarter, more advanced security, but it’s also facilitating growth in the volume of sophistication of attacks. Our report delivers a clear message: ransomware attacks will continue, be more severe than predicted, and the overall impact will cost organizations more than they expect. Organizations must take action to ensure cyber resiliency and acknowledge that rapid, clean recovery matters most.” said Dave Russell, Senior Vice President, Head of Strategy at Veeam. 

With 1,200 responses analyzed, comprising executives, information security professionals, and backup administrators, the report provides a comprehensive overview of the evolving threat landscape. The report shows that the human impact of cyberattacks cannot be overstated. 45% of surveyed individuals cited increased workload post-attack, while 40% reported heightened stress levels and other personal challenges that are difficult to mitigate on ‘normal’ days. These challenges, coupled with existing organizational struggles, further underscore the importance of effective cyber defense strategies.

Despite increased focus on cyber-preparedness, organizations still face a misalignment between their backup and cyber teams. For the third consecutive year, close to two-thirds (63%) of organizations find their backup and cyber teams lacking synchronization. Adding to the misalignment challenges in organizations, 61% of security professionals and 75% of backup admins believe that the teams need either ‘significant improvement’ or that a complete system overhaul is required.

The findings of the report also highlighted that cloud and on-premises data are just as easily attackable, most organizations risk reintroducing infections and organizations must ensure recoverable data like now 75% of organizations now utilizing on-premises disks that can be hardened and 85% are utilizing cloud-storage with immutability capabilities. 

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