A ransomware attack can cripple a business by encrypting files and operating systems. The frequency and severity of ransomware attacks continues to increase, businesses are constantly seeking better ways to protect their data from these malicious attacks. Moreover, a solution that has gained popularity in recent years is using tape storage.
Ransomware attacks can have devastating effects on businesses, both financially and reputationally. Ransomware attack recovery costs are high, covering ransom payment, data restoration, and investigation. A tape library can help save money and reputational damage against ransomware attacks in several ways:
When ransomware encrypts a business's data, the attackers might demand a ransom payment in exchange for the decryption key. A disaster recovery plan and tape storage can aid in data restoration, potentially avoiding ransom payments for businesses.
In the event of a ransomware attack, a tape library can help businesses restore their data more quickly than other backup solutions. Tapes can be loaded into the library and restored rapidly, enabling businesses to reduce downtime and resume operations swiftly.
A tape library can also help protect a business's reputation in the event of a ransomware attack. Also by having data copies, companies can guarantee swift restoration and uninterrupted operations. The reputational damage from a ransomware attack can be long-lasting, as customers and partners may lose trust in the business's ability to protect their data.
Tape storage can save a business significant amounts of money and prevent them from falling victim to further attacks. Preventing extended data outages can avoid losing customer trust and confidence.
According to IBM's latest data breach report, the average ransomware breach cost was $4.54 million in 2022 – but this figure does not include the cost of the actual ransom itself. There are many combined costs and many factors that play into ransomware recovery. Firms that suffered ‘destructive’ attacks, where cybercriminals sought to use malware to destroy data, saw even higher expenses, at $5.12 million.
In fact, one report from 2022 estimated that ransomware payment’s themselves represent only 15% of the total cost of an attack. The remainder comes from downtime, reputational damage and investments in new security implementations and storage technologies. These are just a few of the extra expenses to take into account.
The actual recovery cost of ransomware involves many factors, and cyber insurance can often only go so far towards covering them.
A tape library is a storage system that utilises magnetic tapes to store large amounts of data and can automatically retrieve and load them into tape drives as needed. This system offers several advantages over traditional disk-based storage, including lower cost, greater durability, and better long-term storage capabilities.
However, as ransomware attacks continue to rise in frequency and complexity, tape storage is becoming an increasingly valuable tool for protecting data against attack. Here are some of the benefits of using tape storage against external attacks:
The answer lies in the fact that tapes can be stored and protected from erasure, ensures that there is an Air Gap between the data and the network. Therefore, even if attackers gain access to a company's network, they cannot access the data stored on tape. This is because the only way to access the data on tape is to physically retrieve the tape and load it into a tape drive or take control of the storage software and robotics. This makes it virtually impossible for a ransomware attack to encrypt or destroy the data.
Furthermore, tapes offer an added layer of protection against ransomware by allowing businesses to create multiple copies of their data. By regularly backing up their data to tapes and storing them in separate locations or a data safe. Businesses can ensure that they have a secure, offline copy of their data that is not vulnerable to ransomware attacks.
Tape storage is classed as an offline medium, meaning it is not connected to a network and is controlled by data management software (back, archive, interchange). This makes it much more difficult for external attackers to gain access to the data stored on tape. Cybercriminals often rely on network connectivity to launch attacks, so by keeping data offline on tapes that have retention permissions set, can significantly reduce their risk of falling victim to an attack.
Tape storage is a highly cost-effective solution compared to the average cost of a ransomware payment, particularly compared to other storage forms such as disk-based solutions. Tape libraries and tapes are relatively inexpensive and has the lowest cost per GB of any storage medium, which makes it easy for businesses to create multiple copies of their data for redundancy purposes.
Tapes are known for their reliability and longevity. They have a lifespan of around 30 years, which makes them ideal for long-term data storage. This means that businesses can rest assured that their data will remain safe and accessible for many years to come.
Tape storage offers scalability, making it an ideal solution for expanding data storage needs as businesses grow.
In conclusion, tape storage provides an effective solution for protecting data against a ransomware attack. By putting data in an air-gapped solution between the data and the network, tape storage is an effective way to reduce the risk of cyberattacks. Additionally, by creating multiple tape backups and storing them in separate locations, businesses can ensure they always have a reliable copy of their data. As ransomware attacks continue to pose a significant threat to businesses, tape storage offers a practical and cost-effective solution for protecting critical data.
Additionally, tape storage is scalable, reliable, and allows businesses to create multiple copies of their data for redundancy. As cyberattacks continue to rise in frequency and complexity, tape storage will remain essential for protecting critical business data.
Read the article on how Spectra Logic overcame a Ransomware Attack.