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No World Backup Day, a company of cybersecurity, Check Point, warns of the potential consequences of not regularly backing up data to companies. Recent cybersecurity data indicates that the number of Ransomware attacks is increasing by 9% per month in 2021, and in the last 6 months it has grown by 57%.
Check Point indicates that in 2020, the average cost of recovering from a Ransomware attack was more than $ 84,000. Bearing in mind that the cost of repair increases with every hour that business systems are unusable, the ability to quickly restore data and software is critical – and this is only possible if there are backup copies of complete and recent data. The main risks of missing data backups include:
- Loss of customers. When a company does not have a backup copy of its business data, the first consequence is, without much surprise, the potential loss of confidence of its customers. If the loss of data is permanent, the damage may be irreparable.
- Legal problems with the GDPR (General Regulation on Data Protection). This regulation does not refer only to all the obligations that companies that collect and use personal data must fulfill. It also includes all the technical and specific responsibilities inherent to the management of this type of information. All companies that do not make regular backup copies and in accordance with the rules stipulated by the GDPR can be penalized, not only with economic sanctions – they can also be subject to administrative inspections, in order to find more irregularities.
- Economic costs. The loss of data implies direct economic losses related to the services necessary for its recovery. In the best of scenarios – if the data can be recovered, in whole or in part – the process will inevitably be expensive. In addition, there is the interruption of a company’s productive capacity due to data loss, as well as the probable fines and sanctions mentioned above.
- Activity shutdown. If a company loses its customers’ data and files, it will be forced to temporarily halt its activity, with all the consequences that this entails. Suppliers and employees themselves will lose access to the information they need to operate normally, resulting in service interruption.
- Irreversible reputational damage. The irreparable loss of data or files means that they will have to be collected. In this process, the company’s credibility is inevitably questioned. The work of many years and the confidence gained over the years can be compromised.
“Prevention is the best way to prevent cyber attacks. Even with the best protection software, there are measures that are essential to security. We must always bear in mind that all cyber attacks have as their main objective the theft of sensitive information and consequent economic gains. Therefore, it is essential to avoid losing it in any way, ”begins by affirming Rui Duro, Country Manager at Check Point Portugal.
“Performing regular data backups is absolutely essential for protecting information against potential ransomware attacks or any other disturbance to the normal functioning of a company,” concludes the head of Check Point Portugal.
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