In this AnalystANGLE, principal analyst Christophe Bertrand and Veeam’s Jason Buffington discussed the Veeam 2024 Ransomware Research report, published today.
The Veeam 2024 Ransomware Research report focuses on understanding market trends to guide product development by analyzing different personas and their impact across various industries. The Veeam research study involved surveying 1,200 organizations that reported experiencing at least one successful cyber breach in the past 12 months, and the majority of these organizations experienced multiple breaches. It’s the third year in a row that this project has been conducted, and it has consistently provided interesting insights, and the survey gathered insights from nearly 3,000 lessons learned.
Watch the full conversation here: Veeam 2024 Ransomware Research Report
During the discussion and review of the Veeam 2024 Ransomware Research report, it was highlighted that ransomware remains a significant issue, and it’s expected that these attacks will continue in the future. The research also delved into the realm of IT and cyber resilience, where security intersects with storage, backup data management, and data protection. The focus was on identifying the most significant point to draw viewers’ attention to. One key finding from the research was the fact that 27% of the organizations that paid the ransom were still unable to recover their data. This raises concern about the effectiveness of paying the ransom as a solution to cyber attacks.
The discussion also touched on the importance of exploring the best practices employed by the 15% of organizations that were able to recover their data without paying the ransom. It was emphasized that luck played no role in these successful recoveries; instead, it was the result of meticulous planning and expertise in coordinating cyber teams and security operations with backup and recovery teams.
The discussion around the Veeam 2024 Ransomware Research report also highlighted the broader financial implications of cyber attacks, including operational costs and regulatory issues. It was emphasized that the cost of the ransom itself is just the tip of the iceberg when considering the full financial impact of these attacks.
The report is available at https://vee.am/RW24
