Ransom, in any form, signals serious crime. A high price is placed on the safety of that which has been stolen. If you’re a Managed Service Provider (MSP) and one of your customers becomes a victim of a ransomware attack, all eyes will be on you. It’s a compelling reason to have the right email security in place to prevent attacks in the first place.
Ransomware Continues to Take Its Toll
Consider this very sobering thought: In the past three years – from 2020 – 2022, reported ransomware attacks in the US accounted for more than $112.7 million in losses.1
In the past few years, tactics and techniques used by ransomware hackers evolved more rapidly than ever before. According to the FBI, from January to July 31, 2021, there was a 62% increase in ransomware incidents and a 20 percent increase in reported losses compared to the same time frame just one year prior.2 One particularly frightening trend that arose during the pandemic was the attacks on U.S. Healthcare, First Responder networks, and critical infrastructure sectors. Attacks targeting US Healthcare and First Responder networks included law enforcement agencies, emergency medical services, 9-1-1 dispatch centers, and municipalities.2
The Majority of Critical Infrastructures Are Targeted
In 2022, 14 of the 16 critical infrastructure sectors had experienced one or more ransomware attacks. Those hit hardest included:1
- Healthcare and Public Health
- Critical Manufacturing
- Government Facilities
- Information Technology
- Financial Services
- Commercial Facilities
- Food and Agriculture
- Communications
MSPs Agree: Phishing Emails Present in 54% of Ransomware Attacks
Verizon’s 2022 Data Breach Investigations Report found that ransomware continued its upward trend in 2022 with an increase of nearly 13%. That’s a rise as big as the last five years combined.3 It’s quite possible that 2023 will bring a new surge of threats. In the first quarter of 2023 alone, 80% of the industry alerts issued by the FBI have been about ransomware attacks. The top three ransomware variants in 2022 - Lock bit, ALPHV/Blackcoats, and Hive – continue to victimize vulnerable organizations.1
Even though there are a few possible entry points for a ransomware attack, more often than not these threats begin with phishing. In fact, in a survey of Managed Service Providers (MSPs) phishing emails accounted for 54% of ransomware infections.4 The Verizon Data Breach Investigations Report (DBIR) paints an even gloomier picture, finding that human error was responsible for 82% of breaches, 25% of which involved social engineering.5 The DBIR also found that ransomware was present in almost 70% of malware breaches.3
Doing Your Part to Protect Your Customers
Protecting your customers from a ransomware attack starts with the right email security solution. INKY is the behavioral email security platform that blocks phishing threats – including malware and ransomware – before they can fool your customers into making that one fatal click that can bring an entire business to a halt. INKY also coaches users to make smart decisions, which is critical, given the role human error plays in phishing attacks. Acting like a cybersecurity coach, INKY signals suspicious behaviors with interactive banners that guide users to take safe action on any device or email client.
INKY’s focus on MSPs continues to expand. We know that even if you do have the right email security solution in place, you need the right tools and information to sell your customers on the service. INKY’s Partner Portal contains the marketing materials you need to upsell accounts and keep them safe from ransomware and similar attacks.
Learn more about the phishing threats facing all industries and how best to protect your customers.Request a free INKY demonstration today.
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INKY is an award-winning, behavioral email security platform that blocks phishing threats, prevents data leaks, and coaches users to make smart decisions. Like a cybersecurity coach, INKY signals suspicious behaviors with interactive email banners that guide users to take safe action on any device or email client. IT teams don’t face the burden of filtering every email themselves or maintaining multiple systems. Through powerful technology and intuitive user engagement, INKY keeps phishers out for good. Learn why so many companies trust the security of their email to INKY. Request an online demonstration today.
1Source: www.ic3.gov/Media/PDF/AnnualReport/2022_IC3Report.pdf
2Source: www.cisa.gov/uscert/ncas/alerts/aa21-243a
3Source: www.verizon.com/business/resources/reports/dbir/
4Source: www.statista.com/statistics/700965/leading-cause-of-ransomware-infection/