Ransomware attacks have become a significant threat to businesses worldwide, and small to medium-sized businesses (SMBs) in Wilmington, North Carolina, and the surrounding Cape Fear region are no exception. Understanding what ransomware is and how it can impact your business is crucial. Without the right protections in place, a single attack could leave your business drowning in financial loss or worse, completely adrift.
Ransomware is a type of malicious software designed to block access to a computer system or encrypt its data until a sum of money, or ransom, is paid to the attacker. Cybercriminals often deliver ransomware through phishing emails, malicious downloads, or exploiting unpatched software vulnerabilities. Once the malware infects a system, it can spread rapidly, locking users out of critical files and systems.
SMBs are particularly vulnerable to ransomware attacks due to limited resources and, in some cases, less robust cybersecurity measures compared to larger organizations. In 2024, the ransomware landscape recorded 5,414 published attacks on organizations worldwide, representing an 11% increase compared to 2023. The average ransom demand in 2024 was $2.73 million, nearly a $1 million increase from the previous year. These statistics highlight the escalating financial risks associated with ransomware attacks.
North Carolina has experienced its share of ransomware incidents, affecting both public entities and private businesses. For example, Orange County suffered its third ransomware infection in six years, disrupting county operations and highlighting the persistent threat to local governments. Additionally, the town of Apex reported a cybersecurity incident in July 2024, leading to the shutdown of some town services. These incidents underscore the importance of robust cybersecurity measures for organizations of all sizes in the region.
Beyond the ransom payments, businesses face significant costs associated with downtime, data recovery, and reputational damage. The average downtime after a ransomware attack is 24 days, leading to substantial operational disruptions. Moreover, in the healthcare sector, there were 181 confirmed ransomware attacks on healthcare providers in 2024, involving 25.6 million healthcare records. The average ransom demand in these cases was $5.7 million, with an average ransom paid of $900,000. These figures illustrate the severe financial impact ransomware can have on organizations.
To safeguard your business against ransomware attacks, consider implementing the following measures:
Ransomware poses a significant threat to SMBs in Wilmington, NC, and the surrounding areas. By understanding the nature of this threat and implementing proactive cybersecurity measures, businesses can reduce their risk and ensure they are better prepared to respond to potential attacks. Staying informed and vigilant is key to protecting your organization's assets and reputation in an increasingly digital world.
At CloudWyze, we understand the challenges SMBs face when it comes to cybersecurity. That’s why we offer comprehensive cybersecurity solutions, including proactive monitoring, ransomware protection, and employee security training to help businesses stay ahead of cyber threats. Don't wait until an attack happens - contact CloudWyze today or fill out the form below to strengthen your security posture and protect your business from ransomware.