What is Ransomware?
Ransomware is a type of malware that encrypts an organization’s files. The attacker then demands a ransom payment in return for the decryption “key” and may also threaten to publish the organization’s data if the ransom is not paid.
How Does it Get In?
Ransomware attacks are typically carried out using a piece of malware that is disguised as a business document. The user is tricked into downloading or opening, either as an email attachment or as a link to a document on a compro- mised website.
An Existential Threat
Times have changed. The global cost of ransomware in 2020 was put at $20 billion, with an average attack costing over $4 million. Every 11 seconds a business will be attacked by ransomware in 2021. In 2020, 36% of victims paid the ransom. 17% of those who paid never recovered their data.