The Long Road to Recovery Following a Ransomware Attack

When it comes to the duration of a ransomware attack and the subsequent recovery process, the numbers are staggering and vary wildly. Partly because there’s no single source which compiles all the information in a consistent manner.

On average, a cyber attack can last anywhere from a few days to several weeks, with the recovery time often extending to months or even years.

If you look at the numbers in Statista, 44% of organizations in the United States reported that it took them between one to five days to recover from a ransomware attack, while 29% needed up to a month. Shockingly (but perhaps not all too surprisingly), 7% of the surveyed companies required more than a month to fully recover.

The length of the recovery period is influenced by various factors, including the severity of the attack, how quickly it was detected, the effectiveness of the organization’s incident response plan, and the availability of clean backups. Additionally, the type of encryption used by the attackers and the extent of the forensic investigation required can significantly impact the recovery timeline.

But the consequences of a ransomware attack extend far beyond the immediate downtime. The financial toll can be quite significant. In its “State of Ransomware 2024” survey report, Sophos found an average payment of $2 million. But the ransom is only one part of the cost. Excluding ransoms, the survey found the average cost of recovery reached $2.73 million.

With ransomware, an organization’s operations usually grind to a halt. Critical data becomes unavailable, and systems cannot run. One only has to look at the numerous examples over the years such as Sony, Colonial Pipeline, JBS foods, the NHS, and others to see just how devastating these attacks can be. 

Customers, too, bear the brunt of ransomware attacks. When an organization’s systems are compromised, it can result in the exposure of personal data, financial information, and other sensitive details. This leaves customers vulnerable to identity theft, fraud, and other malicious activities. We’ve seen examples where cosmetic surgery clinics have been targeted, and the data stolen used to target customers directly to apply pressure on the clinic to pay the ransom. This has been so successful for criminals, in late 2023, the FBI released an alert warning that cybercriminals were targeting plastic surgery offices and patients. 

The erosion of trust between the organization and its clients can have long-lasting effects, as customers may choose to take their business elsewhere.

So, what can organizations do to mitigate the impact of a ransomware attack and accelerate the recovery process? The key lies in proactive preparation and a robust incident response plan. Regular backups, employee security awareness and training, and the implementation of strong cybersecurity measures, such as multi-factor authentication and endpoint protection, can significantly reduce the risk of a successful attack.

Moreover, having a well-defined incident response plan in place can make all the difference when an attack does occur. This plan should outline clear roles and responsibilities, and communication channels and messaging. 

In essence, cybersecurity needs to be woven into the fabric of an organization to create a strong security culture. By being prepared and acting swiftly, organizations can minimize the damage and set themselves on the path to recovery. Otherwise, we’ll see the ransomware problem continue to grow.