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European MSPs are reporting the highest frequency of ransomware attacks compared to all other continents

on 15 February 2019

European MSPs are reporting the highest frequency of ransomware attacks compared to all other continents! As a Datto Partner, DPS are pleased to be able to provide the European State of the Channel Ransomware Report.

Datto’s State of the Channel Ransomware Report is comprised of statistics pulled from a survey of nearly 300 managed service providers (MSPs), partners and customers, across Europe. The report provides unique visibility into the state of ransomware from the perspective of the IT Channel and their SMB clients who are dealing with these infections on a daily basis. The report provides a wealth of detail on ransomware, including year-over-year trends, frequency, targets, impact, and recommendations for ensuring recovery and continuity in the face of the growing threat.

Key finding from the report include:

  • Ransomware remains a massive threat to small-to-mid-sized businesses (SMBs). From Q2 2016 - Q2 2018, 84% of MSPs report ransomware attacks against customers, which is higher than all other continents.  
  • The average managed service providers (MSPs) report ~5 of these attacks within their client base per year. In the first half of 2018, an alarming 42% of MSPs report clients suffered multiple attacks in a single day (up from 22%, year-over-year), which is higher than the global average of 35%.
  • The problem is bigger than we know, as a startling number of attacks go unreported. MSPs report that only 16% of ransomware attacks are reported to the authorities.
  • SMBs are largely in the dark about the frequency and severity of ransomware attacks. Nearly 86% of MSPs are “highly concerned” about the ransomware threat and 24% report their SMB clients feel the same.
  • Lack of cyber security education is a leading cause of a successful ransomware attack. MSPs rank phishing emails as the top ransomware delivery method followed by malicious websites, web ads, and clickbait.
  • The aftermath of a ransomware attack can be crippling for a business. When asked about the impacts of a successful attack, 67% of MSPs report victimised clients experienced a loss of business productivity. More than half report clients experienced business-threatening downtime.
  • The cost of business downtime is over 12X greater than the cost of the ransom requested. MSPs report the average requested ransom for SMBs is ~$2,600 while the average cost of downtime related to a ransomware attack is ~$33,200. This exceeds the global rate where the cost of downtime is 10x greater than the average ransom requested.
  • European MSPs report Windows as the most targeted system by hackers. They are also seeing a rise in attacks on Apple and Android systems.
  • Ransomware infections in the cloud continue to increase year-over-year. Of MSPs that report cloud-based malware infections, 49% called out Office 365 as the target.
  • In comparison to other solutions, the most effective for avoiding downtime caused by ransomware is business continuity and disaster recovery (BCDR). Specifically, roughly 91% report that victimised clients with Datto BCDR in place fully recovered from the attack in 24 hours, or less.

 

Download the full report