75% of North American SMBs Not Prepared for Ransomware Attacks

According to a survey of 1,200 small businesses in the U.S. and Canada, 75 percent believe they would only be able to survive a ransomware assault for 3 to 7 days. 30 percent of SMBs do not have a cybersecurity plan in place to deal with threats like ransomware.

Of those North American SMBs that have a ransomware cybersecurity strategy, 35 percent have tested their incident response plan in the last six months.

34 percent of respondents say they do not screen staff for phishing susceptibility to prevent ransomware from being downloaded or mistakenly providing access to an attacker.

47 percent of survey respondents believe they would only be able to endure a ransomware onslaught for three days.

Cybersecurity Controls

Momentive, a major market research firm and creator of SurveyMonkey, performed the Small and Medium-Sized Businesses Ransomware Survey (SMBRS) independently. To avoid any bias in the survey replies, the name of the survey sponsor, CyberCatch, was kept hidden.

Ransomware is an existential threat to SMBs who are a critical part of the supply chain,” said Sai Huda, Founder, Chairman and CEO at CyberCatch. “Foreign adversaries and criminal gangs will increasingly attack SMBs with ransomware to not only extort ransom payments but also use as the entry point upstream to the eventual target, a large company, critical infrastructure, government agency, healthcare organization or other high value target. The SMBRS is a wakeup call for proper cybersecurity controls. The report reveals seven key cybersecurity controls to thwart ransomware.”

CyberCatch is a cybersecurity Software-as-a-Service (SaaS) firm that defends small and medium-sized businesses against cyberattacks by concentrating on the core cause of their vulnerability: security flaws. It provides an innovative cloud-based SaaS platform coupled with deep subject matter expertise to help SMBs implement just the right type and amount of cybersecurity controls.