Datto State of the Channel Ransomware Report for Canada
Datto, the market leader in business continuity services provided through MSPs, has a significant presence in Canada, with about 1,100 partners of their approximately 14,000 global partners.
250 of those Canadian partners were surveyed in the preparation of the Ransomware Report for Canada.
- Ransomware remains a massive threat to small-to-mid-sized businesses (SMBs). From Q2 2016 – Q2 2018, 83% of MSPs report ransomware attacks against customers. In the first 6 months of 2018 alone, 55% report ransomware attacks against clients. 92% of MSPs predict the number of ransomware attacks will continue at current, or worse, rates.
- The average managed service providers (MSPs) report 4 of these attacks within their client base per year. In the first half of 2018, an alarming 37% of MSPs report clients suffered multiple attacks in a single day (up from 31% from 2017).
- The problem is bigger than we know, as a startling number of attacks go unreported. MSPs report that only an average of 21% of attacks are reported to the authorities.
- SMBs are largely in the dark about the frequency and severity of ransomware attacks. Nearly 90% of MSPs are “highly concerned” about the ransomware threat and 33% report their SMB clients feel the same.
- Lack of cybersecurity education is a leading cause of a successful ransomware attack. MSPs rank phishing emails as the top ransomware delivery method followed by poor user practices/gullibility and passwords/access management.
- The aftermath of a ransomware attack can be crippling for a business. When asked about the impacts of a successful attack, 70% of MSPs report victimized clients experienced a loss of business productivity. More than half report clients experienced business-threatening downtime.
- The cost of business downtime is 7.5X greater than the cost of the ransom requested. Canada not only has the highest average cost of ransom, but also the highest cost of downtime globally. MSPs report the average requested ransom for SMBs is $8,764 CAD while the average cost of downtime related to a ransomware attack is $65,724 CAD.
- Canadian 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, nearly 50% 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 90% report that victimized clients with Datto BCDR in place fully recovered from the attack in 24 hours, or less.
Phishing remains a huge threat
Another curious element in the Canadian data is that the number of ransomware attacks that came through phishing was very high, at 80%.
The full report is available here:
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Graphic that follows is shareable from Datto and summarizes the 2019 Datto State of the Channel Ransomware Report for Canada.