September 8, London UK– Osirium Technologies plc(AIM: OSI), a leading UK-based cyber security software vendor, has today released first findings from The Osirium Ransomware Index which suggests that UK businesses are not sufficiently protecting the backups, or backup systems, they say would be critical to their recovery should a cyber attack occur.
You can download the executive summary here.
The research, collected across 1,001 IT managers in the UK, cites 80% of small businesses rely on backups as a plan of recovery should a cyber-attack occur, with 63% of these using online backups as a preventative measure in avoiding data loss. Overall, 4in 5 businesses (79%) surveyed admitted that they have experienced at least one ransomware attack; with 68% of these stating the attack occurred in the past year. Interestingly, despite 98% of respondents saying they were aware that backups are a target of ransomware attacks, over half (56%) do not keep offline backups and only 35% take extra precautions to protect access to backups and backup management systems.
“Online backups are at significant risk because, in the event of a ransomware attack, the backup system faithfully takes copies of the infected data and thus renders the backups useless, ”explains David Guyatt, CEO at Osirium. “A multi-layered approach to managing these systems is needed. Keeping offline backups is key but protecting access to the backup management system and related backup files is critical to prevent infection. Nearly three quarters (73%) of respondents stated that backups are a key element to recovery, so more attention need to be paid to protecting them.”
The research also showed that just over half (58%) of UK businesses only feel ‘somewhat prepared’ for the eventuality of a ransomware attack. Alongside online backups (54%), training staff about ransomware (52%)and relying on hard drive/offline backups (50%) were the other methods most cited in preparing for a ransomware attack.
If they were to fall victim to a ransomware attack, the main and immediate concerns for the IT managers surveyed would be backup failure (31%), data protection/GDPR breach(28%), sensitive and financial record breaches (27%) and overall costs to the business (27%). However, 1 in 10 also added they would also stress about the prospect of being fired.
About the Research.
The survey was carried out on behalf of Osirium by Atomik Research, an independent creative market research agency that employs MRS-certified researchers and abides to MRS code. Atomik surveyed 1001 IT managers across the UK between 30 July and 5 August 2021.
About Osirium Technologies
Osirium Technologies plc (AIM: OSI) is a leading UK-based cybersecurity software vendor delivering Privileged Access Management (PAM),Privileged Endpoint Management (PEM) and Osirium Automation solutions that are uniquely simple to deploy and maintain.
With privileged credentials involved in over 80% of security breaches, customers rely on Osirium PAM’s innovative technology to secure their critical infrastructure by controlling 3rd party access, protecting against insider threats, and demonstrating rigorous compliance. Osirium Automation delivers time and cost savings by automating complex, multi-system processes securely, allowing them to be delegated to Help Desk engineers or end-users and to free up specialist IT resources. The Osirium PEM solution balances security and productivity by removing risky local administrator rights from users, while at the same time allowing escalated privileges for specific applications.
Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com.