In this exclusive VeeamON 2023 interview, VMblog sits down with Dave Russell, the VP of Enterprise Strategies at Veeam, to discuss the new Veeam 2023 Ransomware Trends Report which was released during the event.
Looking at the ransomware trends, there is bad news and even worst news. As an example, according to the data in the report, one in seven organizations will see almost all (80%) data affected as a result of a ransomware attack - pointing to a significant gap in protection.
And paying the ransom does not ensure recoverability either. According to the study, while 59% paid the ransom and were able to recover data, 21% paid the ransom yet still didn't get their data back from the cyber criminals. Additionally, only 16% of organizations avoided paying ransom because they were able to recover from backups.
Russell discusses other study findings, and hopes that these findings help raise awareness across the industry. Veeam continues to add features and functionality into their products to help.
One other area of discussion that is important to consider is cyber insurance. What's interesting to note here is that while many companies have taken out and used cyber insurance in the past to help pay a ransom, many will find that this type of insurance may be going away.
The full Veeam 2023 Ransomware Trends Report is available for download at https://www.veeam.com/ransomware-trends-report-2023.