What Is Ransomware?
The Rise Of Ransomware
Maureen Data Systems
Ransomware, A Plain and Simple Definition:
Ransomware is malware that locks your files and applications to prevent you from using or accessing your data until you pay a ransom. Payments are usually made in the form of bitcoin as to not be traced.
Ransomware is expected to be a four billion dollar industry by 2018.
…Ransomware is growing at an alarming rate
The rate at which ransomware is on the rise is astronomical. Reports of ransomware attacks attempted rose from 3.2 million in 2015 to 638 million in 2016. That’s an increase of more then 167 times the number of attacked in 2015.
…companies pay billions
According to a study by IBM, 70 percent of business victims paid the hackers to get their data back. In the last year a Hollywood hospital was forced to pay $17,000 in bitcoin to retrieve its data. There are hundreds of attacks that are kept secret, but the companies are paying. Ransomware became a billion dollar industry in 2016 and is expected to become a four billion dollar industry by the end of 2018.
“Ransomware is expected to become a four billion dollar industry by the end of 2018”