One cyber attack per minute: these are the facts for UK businesses

What would you do if you are the manager of a small business and your IT infrastructure, storage data, and services are disabled by a ransomware attack? UK companies have experienced an average of more than 1 cyber attack per minute in 2020, according to a recent report from the cyber security industry.

The study published this week has found that the rate of cyber attacks on UK businesses with internet connections has been 30% higher than in the same period last year. Moreover, the analysis estimates that a single company received an average of 120,000 internet-bourne attempts to breach their systems in the last three months.

This analysis managed to identify almost 400,000 different IP addresses which had been used to attack UK businesses in the first quarter of 2020 – more than 10% of them were located in China, however, this is the lowest level since 2018.

The current times are the perfect storm for cyber threats and all IT Managers and CISOs (Chief Information Security Officer) will be tested here. Plus, the question of whether to pay the extortion demand for a ransomware attack is always hotly debated.

Here are some of the reasons for not paying:

  1. There is no guarantee that the hackers will send the promised encryption key
  2. Payment may encourage repeated strikes against the organisation in the future
  3. Successful ransomware attacks inspire more hackers to get involved in this type of extortion

These are truly valid points. However, an attack can take down email, phones, and data and records in minutes before spreading to other devices. Are you willing to risk it? As we mentioned in a previous post, the hacker profiles that are taking advantage of coronavirus can be classified according to an unimaginable level of resources and sophistication. And not everybody is able to recover from these types of attacks themselves. In fact, most companies rely on outside security consultants, as most small businesses fall short in protecting their cyber assets.

To prevent ransomware attacks, any-size businesses need to take these threats seriously and take sensible steps to improve their resilience to attack. Particularly now that the risk is magnified with so many people working from home, as 57% IT decision-makers in the UK believe workforce remote practices put the organisation data under threat.

When it comes to possible targets, at Internet of Things applications, such as control systems ad networked security cameras and other can be frequently attacked, as well as databases, and file-sharing systems.

Email protection systems, vulnerability scans, cloud and security protection, and DDoS protection are some of the basic solutions designed to fill in the missing security gaps. Find out more about the RedSpam Managed Solutions or simply contact us to speak with one of our experts in cyber security.