Why Spend Millions ($$$$) In Ransom Payments, Downtime, Recovery, Lost Sales, Lost Productivity And Restoration Cleanup Costs When From As Little As $5,000 A Month You’ll Gain Peace Of Mind You Won’t Fall Victim

Why Spend Millions Ransomware Cleanup Costs Cyber Security Perth IT Services Perth IT Support PerthYou’d have to be living in a hole to not of heard of the numerous ransomware cases making the news each and every single day. Just recently I heard about a company that suffered a ransomware attack and had both their primary and secondary copies of the backups deleted by the cybercriminals. This forced the company in question to pay the ransom, which by todays modern standards was relatively “cheap”.

The ransom demanded by the cybercriminals was “only” US $250,000, which when compared to the average ransom demand for 2021 of US $850,000 is well under.

Unfortunately, the story does not end there my friend. Once the company totalled up the cost of the downtime in lost sales, lost productivity, investigation and recovery costs the damage was well over US $4,000,000!

For most small to medium firms that would wipe them out, good night, Irene, shut up shop.

I’m not sure about you, but I certainly don’t have a spare US $4,000,000 sitting around to pay if I suffer a cyber breach. I also know my cyber liability policy wouldn’t cover all of it either. It would also be the end of my business as I don’t believe any IT services company would have any clients left after such an incident.

Speaking of cyber liability insurance, I know you are thinking that your insurance company would cover your claim and you’d get re-imbursed. Not so fast my friend. If your broker or you have supplied incorrect information on your application form, and the insurance company finds out after the fact, there is a very good chance your claim will be denied.

Further, the insurance companies are tightening the screws when it comes to coverage and there have been some that have said that they won’t cover ransom payments. Many are mandating that you must have implemented certain functions such as multi factor authentication before they will even speak to you about supplying insurance.

So, what choices do you have?

  • Stick your head in the sand and pretend it won’t happen to you.
  • Stick your head in the sand and hope your insurance will cover you when you suffer the devastating consequences of a breach.
  • Stick your head in the sand, suffer a cyber-attack, miraculously, “find” or “borrow” a few million dollars to cover the losses then go bankrupt within 6 months.
  • Stick your head in the sand, suffer a cyber-attack, are unable to claim on your cyber liability insurance because you or your broker or your existing IT services company “falsified” information on the application form and are forced to declare bankruptcy within 1-2 months.
  • Or from as little as $5,000 a month, work with an IT services or tech support company who is heavily experienced with cyber security, who can mitigate the damage or prevent the attacks in the first place, so you never have to worry about it again.

As the famous saying goes, “an ounce of prevention is worth a pound of cure”.

So, what do you need to look for in a quality IT services company who is heavily experienced with cyber security?

  • Someone who isn’t afraid to put their money where their mouth is and offers a guarantee on their services e.g. Our “Never Pay The Ransom” guarantee which you can read more about on our homepage.
  • Will have straight up, tough, honest conversations with you when they believe you’re acting against your best interests. Or as a mentor of mine likes to say, “showing up like unwashed vegetables”.
  • Believes in investing in quality products and services that have a great reputation and deliver results.
  • Has a proven track record when it comes to mitigating or preventing cyber attacks and isn’t afraid to admit to their mistakes when they happen.
  • Has heavily experienced team members backed up with industry certifications such as the Certified Information Systems Security Professional (CISSP) from ISC2.
  • Only uses suppliers/vendors who they can rely on to get the job done right.
  • Meets with you regularly to check in with how your firm is going and apprise of you changes in the industry and things you need to be aware of.
  • Can access a network of resources to help out when something is outside the IT services company’s direct expertise.

Anyone who tells you they are an “expert” at everything, that should be sounding the alarm bells and causing you to run for the hills.

Want to learn more about quality IT services and cyber security services? Go to https://www.myinfotechpartner.com.au/pylvideo/ and sign up for a FREE 17-minute training video where I give you many important points to consider, offer guidance on what you need to look for.

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Don’t wait to find out the hard way! Please remember that EVERYTHING WE DISCUSS AND DISCOVER WILL BE STRICTLY CONFIDENTIAL.