The average ransomware payout in 2018 was $6,733, according to Coveware. The average overall business impact was almost $55,000, with business impact lasting an average of 5.5 days. Arguably worse, 15% of all data affected by these breaches was rendered unrecoverable. These attacks are growing in prevalence, increasingly affecting businesses of scale, the average employee count being 71, and are presenting unique challenges to the assessors of risk in the business community.
As we rang in the new decade, the Emisoft Malware Lab’s 2019 State of Ransomware Report notified us that last year approximately 764 healthcare organizations, 113 state municipalities, and 89 universities were victims of this vicious form of malware. After a ransomware attack, hackers acquire and lock your employees out of their personal data. These staggering numbers and the damage done cause a natural reaction to want to investigate and resolve the problem at hand.
If you take cybersecurity seriously and plan to address it meaningfully, you’re probably wondering what’s the best approach for your organization. There are two broad approaches to managing cybersecurity: You can outsource to a managed security services provider, or you can hire your own internal IT security staff. Let’s discuss the things you should keep in mind as you’re deciding the best approach for your company.