SMBs Paid $301 Million to Ransomware Attackers

Ransomware attacks against small- to midsized businesses (SMBs) are expected to increase over the next two years, according to a survey released today by Datto.

The State of the Channel Ransomware Report, which surveyed 1,700 managed service providers (MSPs) that collectively have more than 100,000 SMBs customers, found 99% of survey respondents say they expect the increase in ransomware attacks will continue over the course of two years.

Ninety-three percent of MSPs say their SMB clients were hit with a ransomware attack in the past two years; 21% report their clients faced six or more attacks during the last year; and 26% note their SMB customers experienced multiple attacks in a single day.

SMBs paid out an estimated $301 million in ransom to attackers in the 2016-2017 period, the report shows.

However, less than one in three SMBs reported their ransomware attack to authorities in the 2016-2017 period, an improvement from one in four during the 2015-2016 timeframe. 

Read more about the survey here. 

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