Release of findings from Osirium Ransomware Index

RNS Number : 0397L

Osirium Technologies PLC

08 September 2021

 

8 September 2021

REACH

Osirium Technologies plc

("Osirium", "the Group" or "the Company")

Osirium research finds UK businesses vulnerable to ransomware attacks

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity software, has today released findings from a research report it has undertaken, suggesting many UK businesses are not sufficiently protecting their critical IT recovery systems should a cyber-attack occur.

The Osirium Ransomware Index surveyed 1,001 IT managers in the UK and found that 80% of businesses rely on backups (whereby a copy of computer data is taken and stored elsewhere) as a plan of recovery should a cyber-attack occur. Yet despite this reliance, only a minority take extra precautions of using privileged access management to protect their backups, leaving the bulk of UK businesses vulnerable to attack, as our report highlights.

Key findings of the report:

-      Overall, 79% (4 in 5 businesses) surveyed admitted that they have experienced at least one ransomware attack, with 68% of these stating the attack occurred in the past year.

-    Despite 98% of respondents saying they were aware that backups are a target of ransomware attacks, over half do not keep offline backups and only 35% take extra precautions to protect access to backups and backup management systems.

David Guyatt, CEO of Osirium, commented: "Cyber-attacks on UK businesses remain a very real threat and unfortunately is an everyday occurrence for organisations across all sectors with potentiallyprofound consequences. Our report highlights the degree of vulnerability that persists, with58% of UK businesses surveyed only feeling 'somewhat prepared' for the eventuality of a ransomware attack. Many businesses know they need to bolster their backup protection, and this awareness continues to drive new opportunities for our privileged access management solutions."

Further information on the Osirium Ransomware Index can be found here: https://www.osirium.com/documents/osirium-ransomware-index

Contacts
Osirium Technologies plc	Tel: [phone]
David Guyatt, CEO
Rupert Hutton, CFO
Stifel Nicolaus Europe Limited	Tel: [phone]
Fred Walsh Richard Short
Alma PR (financial PR adviser)	Tel: [phone]
Hilary Buchanan	[e-mail]
Kieran Breheny
Faye Calow

About the Research.

The survey was carried out on behalf of Osirium by Atomik Research, an independent creative market research agency that employs MRS-certified researchers and abides to MRS code.  Atomik surveyed 1001 IT managers across the UK between 30 July and 5 August 2021.

About Osirium Technologies Plc

Osirium Technologies plc (AIM: OSI) is a leading UK-based cybersecurity software vendor delivering Privileged Access Management (PAM), Privileged Endpoint Management (PEM) and Osirium Automation solutions that are uniquely simple to deploy and maintain. 

With privileged credentials involved in over 80% of security breaches, customers rely on Osirium PAM's innovative technology to secure their critical infrastructure by controlling 3^rd party access, protecting against insider threats, and demonstrating rigorous compliance. Osirium Automation delivers time and cost savings by automating complex, multi-system processes securely, allowing them to be delegated to Help Desk engineers or end-users and to free up specialist IT resources. The Osirium PEM solution balances security and productivity by removing risky local administrator rights from users, while at the same time allowing escalated privileges for specific applications.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com .

 

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