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Ransomware is a form of malicious software (malware) that is designed to encrypt files on a device, making the files and the systems that rely on them unusable. Malicious actors then demand a ransom payment, usually in the form of cryptocurrency, in exchange for decryption. These malicious actors may also make extortion demands by threating to release stolen data if a ransom is not paid, or may come back after the fact and demand an additional payment not to release stolen information.

Additional Ransomware Resources:

References

1.

Internet Crime Complaint Center, Internet Crime Report 2020

2.

AIG, Cyber Claims Analysis, Q3 2020.

3.

Health and Human Services Cyber Security Program, Ransomware Trends 2021, June, 3, 2021.

4.

IBM, Cost of a Data Breach Report 2020.

5.

AIG, Cyber Claims Analysis, Q3 2020.

6.

Health and Human Services Cyber Security Program, Ransomware Trends 2021, June, 3, 2021.

7.

AIG, Cyber Claims Analysis, Q3 2020.