Ransomware —

Ransomware is a type of malware (malicious software) that blocks access to data or a computer system or threatens to publish sensitive information until the victim pays the cyber attacker.  

Ransomware is of particular concern for organizations. Once it infects a system, computer, or mobile device, it encrypts all the data on it, making it inaccessible to the user until a certain sum is paid to the attackers, usually in the form of cryptocurrency. 

With an incredible 71% of organizations worldwide falling victim to ransomware in 2022 alone, it represents a problem that companies can’t afford to ignore. These figures seemed to jump amid the emergence of “ransomware-as-a-service,” which is thought to have led to a doubling of attacks in the first ten months of 2022

Unfortunately, paying the ransom is often not a solution. Reports indicate that 80% of victims who pay the ransom are attacked again shortly after, and 46% of victims find that their files are still corrupted even after paying the ransom. It is ultimately a dangerous and costly threat to individuals and businesses.

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