While 2020 brought about expected advancements in technology and in cyber threats, it combined that with a global pandemic that turned the world on its head. This swift change led to a growing divide between organizations with more advanced security processes like automation and formal incident response teams, and those with less advanced security postures in those areas.
In 2021 this divide has been exacerbated as ransomware attacks and cyber threats continued to accelerate, garnering front-page headlines and costing companies billions. In fact, these attacks show no signs of stopping because they’re so lucrative. Ransomware has proven to be a good revenue stream for all threat actors, including nation-states. Ransomware is an equal opportunity offender; like phishing, anyone, from the CEO to the Receptionist, can be susceptible to ransomware attempts.
Ransomware is a type of malware designed to encrypt a victim’s information upon activation, thereby leaving the files, applications and systems on a device unusable. Malicious actors then demand a ransom in exchange for decryption, which is the only way to regain control over the information. In a sense, ransomware “kidnaps” your data, and demands money from you to return it.
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