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Estimates suggest a ransomware attack occurs every 11 seconds globally and causes an average of 23 days of downtime. In South Africa, the average cost of remediation from a ransomware attack was R6.4 million with 50 to 70 percent of all attacks aimed at SMEs.
The multi-layered containment solution, RansomCare (RC), detects and reacts to malicious file corruption and encryption and stops it in its tracks. The solution is agentless and utilises more than 20 detection sensors to detect the tell-tale signs of active ransomware.
Patrick Evans, CEO SLVA, says ransomware is constantly evolving, becoming more powerful, aggressive, and financially devastating. “We are very excited about our partnership with BullWall as it will enable clients to become more resilient and ensure business continuity in the face of a ransomware attack. It’s a partnership that has real relevance for South Africa as one of the top five most targeted nations for ransomware in the world.”
Says Evans, “Despite deploying endpoint protection, too many organisations fall victim to ransomware. This is because attacks target file shares, which is why a last line of defense solution designed to stop malicious encryption on monitored file shares and file servers is so vital.”
He adds that the financial implications of a ransomware attack are staggering. “The risks are significant and impact businesses who can least afford it. SME businesses are frequent targets and the vast majority of those, at around 60 percent, do not survive the next six months. A ransomware attack can easily encrypt up to 10,000 files per minute. A proven, 24/7 automated response like BullWall complements existing security defenses and instantaneously detects data anomalies and events.”
SonicWall Capture Labs recorded logged nearly 500 million attempted ransomware attacks from January to September last year amounts to a 148 percent surge as compared to the same period last year.
To unpack the anatomy and scale of ransomware attacks, as well as best practice recommendations on how organisations can best protect themselves, SLVA in partnership with BullWall, will host a webinar on Thursday, 24 February at 10h00. SLVA CEO, Patrick Evans will be joined by Jake Machay, Last Line of Defence Evangelist, and other panellists for in-depth insights and analysis on the current cyber threat landscape. Register and reserve your spot here.
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About SLVA Cybersecurity:
Cybersecurity incidents don’t happen by accident. Neither do secure businesses. Cybersecurity is potentially the most impactful risk a business faces.
For a business to address cybersecurity properly, it needs to be managed in a way that both supports and enables business objectives. SLVA Cybersecurity’s Secure Business by Design model allows organisations to address what matters most, by design, so that they’re prepared for any eventuality, and have effective options, regardless of what threat materialises.
For more information contact Trevor van de Ven: Trevor@ginjaninja.co.za
© Press Release 2022
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