Intelligent CXO Issue 61 | Page 20

LATEST INTELLIGENCE
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WHITE PAPER
The Trusted Data Security Solution for Cyber Recovery
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THE TRUSTED DATA SECURITY SOLUTION FOR CYBER RECOVERY

CYBER ATTACKS: A PERVASIVE AND GROWING RISK
Digital transformation has brought significant benefits to organizations, including increased agility and flexibility, but it has also led to a rise in cyber attack vectors. 66 % of organizations were hit with ransomware within the last year, according to a 2022 Sophos survey. The widespread adoption of cloud services and Software-as-aService( SaaS) applications has expanded the attack surface, making it more challenging to manage and secure data. Additionally, the increased use of mobile devices and remote work have made it easier for cybercriminals to launch attacks from anywhere, at any time.
THE BUSINESS IMPACT OF RANSOMWARE reputational harm, regulatory compliance requirements, loss of customer goodwill, increased cyber insurance premiums, and more. All in all, total costs are often in the millions of dollars, with full recoveries taking weeks to months. Ransomware cost the world $ 20 billion in 2021 and that number is expected to rise to $ 265 billion by 2031. The impact is clear: when an organization’ s data is down, its business is down.
LEGACY BACKUP: UNTRUSTWORTHY FOR CYBER RECOVERY
Many organizations still rely on legacy backup as their last-resort cybersecurity option. However, these systems often lack critical security features and are not designed to protect against modern cyber threats. x
Ransomware attacks can be crippling. Ransom payments can cost millions of dollars without any guarantee that paying the ransom will restore impacted data. Beyond the cost of the ransom itself, attacks can also result in downtime, lost revenue, recovery costs,
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