IT, Telecoms and Software sector ransomware

IT’s not just you, its your customers they are after – and its happening every day

Why is this happening?

Are you protected and what do you need to do to combat this threat?
Whether it’s the national carriers at Argentina Telecoms and Sri Lanka Telecom, software vendors like Solar Winds and Software AG or IT Service Providers like Sopria Steria or Cognizant IT, the cyber security press has covered many large-scale cyber breaches and ransomware attacks on the IT, Telecoms and Software sector in the last 18 months.
In recent Cyber Insurance breach reports and across cyber security surveys the IT, Telecoms and Software sector consistently appears as a top five targeted sector.
Working in the technology sector, you may already know that 27% of companies with Cyber Insurance that suffer a ransomware attack get the ransomware paid by their insurance provider1. That means they can’t successfully recover their own data from an attack, but they did confirm they have a backup solution on their application, or the Cyber Insurer would not have placed them under cover.

So how does it all go wrong?

The main reason it could happen to you – out of date thinking from the backup vendors and their champions in your IT team.
You may also be interested to know that in 59% of successful ransomware attacks cloud data is encrypted2. As adoption of cloud services grows the security and protection of the data is the responsibility of the organisation subscribing to the service, but often the blame for a data loss falls onto the service provider.

So why is cloud data so vulnerable?

How about no backup or visible ransomware protection from the major Public Cloud providers, starting it Microsoft 365
The leverage hackers get from compromising a technology company is immense. One breach can enable access to hundreds, if not thousands of your client’s networks immediately. If they are clever the downstream exploits could mean ransomware infecting data and detonating for months afterwards following the initial breach.
If you want to understand more about how you can recover from ransomware attack, and protect both your data and your clients data get in touch