Woburn, MA – November 8, 2016 – According to new data from the Kaspersky Security Network (KSN) , small businesses faced eight times more ransomware attacks in the third quarter of 2016 than the third quarter of 2015. KSN reports that there were 27,471 attempts to block access to corporate data detected and repelled by Kaspersky Small Office Security in Q3 2016, compared to 3,224 similar attacks during the same period of 2015.

Ransomware blocks all operations or encrypts critical business data until a ransom is paid. A successful ransomware attack usually leads to significant financial loss or even the shutdown of critical business processes, something which can have a significant impact on a small company. In Kaspersky Lab’s Corporate IT Security Risks 2016 study more than half of respondents from small businesses (55 percent) reported that it had taken them several days to restore access to encrypted data after an attack.

In order to minimize risks, businesses need to take preventative measures to address ransomware threats. Minimal security requirements should include educating personnel on how to resist social engineering and phishing attempts, how to make backup copies of critical data, how to update software on their devices and how to implement high-end information security solutions suitable for a small company’s needs.

“Threats in the small business sector are constantly increasing, so even the smallest companies need to be able to protect themselves,” said Vladimir Zapolyansky, head of SMB marketing, Kaspersky Lab. “When it comes to ransomware, paying the ransom doesn’t guarantee that data will be returned safely. To ensure protection from ransomware and other types of attacks, businesses need to implement reliable up-to-date information security solutions as a preventive measure – it is always easier to prevent threats, than respond to them when the damage has already been done.”

Because their protection needs are different to those of large corporations, small companies need to implement dedicated solutions. Kaspersky Lab’s latest update to Kaspersky Small Office Security features an enhanced anti-ransomware functionality to provide multi-layered protection from well-known and emerging threats for small and very small businesses.