Over the past year, COVID-19 has led to unprecedented lifestyle changes around the world. Whether you are working from home for the first time, adjusting to the changing social distancing rules, or taking part in e-Learning, the pandemic has thrown up a variety of new challenges and cyber threats. As many organisations transitioned to a remote workforce, organisations witnessed a dramatic rise in cyber-attacks from hackers looking to exploit remote employees working without the safety net of their corporate network.
According to data from Check Point Research, ransomware attacks in Singapore increased by 40 percent in June and globally the average number of ransomware attacks increased each week by 20 percent in May and April, by 41 perent in the first half of the year and 93 percent in the last 12 months.
In view of the high level of risk that this represents for companies and their data security, Check Point Software wants to highlight the crucial importance of restoring a company’s stolen or encrypted data in the event that it falls victim to a cybercriminal. As such, the data security specialist reveals its five reasons why businesses should make backups a priority:
- Preventive measures do not always work: As cyber criminals continue to target the remote workforce, companies have started to expand their cybersecurity strategy through robust defence software, both for the corporate network and the cloud, to update systems and apps on a regular basis, to install a VPN and to increase levels of protection on employees’ devices, as well as to provide cybersecurity training for workers. While these measures do considerably increase the level of protection for a business, it is still possible that they could fail to stop an attack, as cyber criminals constantly develop new ways to get round the defenses. It is essential to have a backup plan so that no data is lost in the event of a cyberattack. If a company becomes the victim of a double ransomware extortion attack, having a backup system in place gives them the chance to quickly restore things back to normal.
- Cyber-attacks are evolving: Cyber-attacks are evolving every day and cybercriminals are constantly striving to find security loopholes. Companies are often unprepared for new ransomware, phishing emails, and malware. This is why, despite the updates and protective barriers they may have in place, new generation cyber-attacks could still get through these defences and achieve their objectives.
- Data theft puts a company’s reputation at risk: Losing information by exposing customers’ personal data can have irreparable consequences for a business in terms of reputation and financial loss. Since GDPR came in a few years ago, allowing customer’s personal documents to be compromised can lead to litigation.
- The cloud becomes another attack vector: It is true that the cloud has brought great advantages to companies, like reducing costs and allowing remote working. However, storing data on cloud platforms exponentially increases the attack surface through which cybercriminals could gain access to the corporate network. So, it’s a good idea, in fact it’s essential to carry out regular manual backups of the information stored in the cloud, in case anything outside the company’s control might happen.
- Internal dangers are sometimes undetectable: Unfortunately, even with all possible cybersecurity measures and the best protection software in place, the responsibility of users is fundamental. It is essential to train employees on the different techniques and correct approach to cybersecurity. Instilling in employees the importance of having up-to-date backups in the event of an unforeseen event or cyber-attack can be one of the best defences.
