Ransomware is a kind of malicious software that holds user data for ransom, blocking access or threatening to publish the data unless demands are met.
As our interactions with and dependence on digital systems grows, so too does the value of our sensitive data. And while some cybercriminals are more interested in quietly stealing your data to sell or use for themselves, others are content to hold it hostage. When an outside threat actor takes control of your system, data, applications, etc., and then attempts to blackmail you into paying to regain control, that is known as a ransomware attack.
Unfortunately, this kind of cybercrime is all too common; in 2020 alone, the FBI’s Internet Crime Complaint Center received nearly 2,500 reports of ransomware attacks, with adjusted losses amounting to more than $29.1 million. And the risk is only growing, with global ransomware reports having increased by over 700% from 2019–2020. In fact, in response to this mounting danger to American citizens, businesses, and governmental departments, President Biden issued an Executive Order in May of 2021 (Improving the Nation’s Cybersecurity), providing details, federal policies, and best practices designed to offer increased protection from the dangers of ransomware.
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