Hard Drive Recovery Associates: The Costs Of Ransomware

Irvine, California data recovery service Hard Drive Recovery Associates is pleased to announce that they have published a new blog post, titled 'The Costs of Ransomware'. This article goes into detail about the potential destructive power of ransomware and how to avoid it. The company has been operating for over 15 years, and in that time has successfully dealt with virtually all kinds of data loss situations.

Jack Edwards of Hard Drive Recovery Associates says, “While modern computer security is very well advanced, the flip side of that progress is that malicious software has also made similar strides. Today, ransomware is a major problem for both businesses and individuals, and attackers are implementing more covert and advanced techniques — while learning from the mistakes in implementation that occurred in earlier generations of attacks at the same time. This means that it is more important than ever that people know about ransomware and the extent of its potential for destruction.”

According to Hard Drive Recovery Associates, a new component in ransomware attacks are data leaks. Since data leaks make companies vulnerable, ransomware attackers have more ways to threaten a company. In the blog post, the company also goes on to point out that, in addition to businesses, even government institutions and entire towns have fallen victim to ransomware attacks. Data shared in the blog post shows that, in fact, there are reports that for every six towns in the state of Massachusetts, one is a victim of ransomware. While many of these towns recovered their files from backups, at least 10 handed over taxpayer money to hackers to unlock their data.

The blog post also shows that even institutions of learning are not spared. Niagara University had to cancel classes in the second week of February this year as their computer system came under attack, and the university’s IT personnel discovered on February 12 that ransomware attacks had caused some of their email servers to lock down.

The blog post says that ransomware is one of the new, greater dangers that businesses and institutions face in the modern world. According to Hard Drive Recovery Associates, what sets this new wave of ransomware cybercriminals apart from the older generations is that they have taken extortion to a new level by exposing data that they stole online, threatening whole batches of data if they do not get paid by the companies in exchange for unencrypting it.

Not only is being a victim of ransomware an exhaustive and potentially expensive experience, the unfortunate fact is that the road to a full recovery is likely to be quite expensive as well. In the blog post, the company shares information from Forbes.com that says, “It’s getting more and more expensive for victims of ransomware attacks to recover. The average cost more than doubled in the final quarter of 2019. According to a new report from Coveware, a typical total now stands at $84,116. That’s a little over double the previous figure of $41,198.”

In fact, ransomware can be so destructive that it can lead to businesses going bankrupt. Since ransomware can cost a business their data, cash and accounts, it will make their customers look for other options, which in turn leads to a loss of business. Further, direct costs in the form of ransom cybercriminals can reach thousands of dollars, and more losses are incurred due to indirect costs. However, there are strategies businesses can adopt to lessen their risk. These precautions come in a variety of forms, including protecting networks and computers from being attacked through security software, having extensive backups and more.

The full blog post on Hard Drive Recovery Associates’ website goes into further detail about ransomware and the problems it can cause. Edwards says, “It is true that ransomware attacks will make you feel helpless, but as long as you’re prepared for it, you can mitigate your losses severely. Plus, of course, if there is any data lost, an experienced data recovery company like Hard Drive Recovery Associates may be able to help you.”

Those who want to learn more about Hard Drive Recovery Associates and their services are welcome to visit the company's website to get started. Hard Drive Recovery Associates also maintains a page on Facebook where interested parties can both find new information and media and get in touch with the company. The company can also be contacted directly through their website. Alternatively, customers may reach Jack Edwards directly via email or phone.