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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.









 

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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.