Ransomware is a type of malware, or malicious software, that hackers launch to disable or limit an organization’s access to its data until a ransom is paid. The hackers then instruct the organization on how to pay the ransom in order to release the decryption key that will allow the company to decrypt the data and potentially gain access to its files, databases and applications.

Ransomware attacks are increasing rapidly, generating substantial revenue for cybercriminals and causing significant damage to businesses and government bodies.

Attack groups are constantly adapting and evolving their tactics, devising new ways to extort ransom from victims. As long as these gangs can extort payment from businesses, ransomware attacks will continue to escalate.