SLVA Cybersecurity has announced a new partnership with Danish technology innovator BullWall to empower South African businesses with a last line of defense ransomware solution.
Estimates suggest a ransomware attack occurs every 11 seconds globally and causes an average of 23 days of downtime. In South Africa, the average cost of remediation from a ransomware attack was R6,4-million with 50% to 70% of all attacks aimed at SMEs.
The multi-layered containment solution, RansomCare (RC), detects and reacts to malicious file corruption and encryption and stops it in its tracks. The solution is agentless and utilises more than 20 detection sensors to detect the tell-tale signs of active ransomware.
Patrick Evans, CEO of SLVA, says ransomware is constantly evolving, becoming more powerful, aggressive, and financially devastating.
“We are very excited about our partnership with BullWall as it will enable clients to become more resilient and ensure business continuity in the face of a ransomware attack. It’s a partnership that has real relevance for South Africa as one of the top five most targeted nations for ransomware in the world.”
He adds: “Despite deploying endpoint protection, too many organisations fall victim to ransomware. This is because attacks target file shares, which is why a last line of defense solution designed to stop malicious encryption on monitored file shares and file servers is so vital.”
Evans says that the financial implications of a ransomware attack are staggering. “The risks are significant and impact businesses who can least afford it. SME businesses are frequent targets and the vast majority of those, at around 60%, do not survive the next six months. A ransomware attack can easily encrypt up to 10 000 files per minute. A proven, 24/7 automated response like BullWall complements existing security defenses and instantaneously detects data anomalies and events.”
SonicWall Capture Labs recorded logged nearly 500-million attempted ransomware attacks from January to September last year amounts to a 148% surge as compared to the same period last year.