Ransomware scams involve a type of malware that infects computers and restricts users’ access to their files or threatens the permanent destruction of their information unless a ransom—anywhere from hundreds to thousands of dollars—is paid.
Ransomware has been around for several years, but there’s been a definite uptick lately in its use by cyber criminals.
Ransomware doesn’t just impact home computers. Businesses, financial institutions, government agencies, academic institutions, and other organizations can and have become infected with it as well, resulting in the loss of sensitive or proprietary information, a disruption to regular operations, financial losses incurred to restore systems and files, and/or potential harm to an organization’s reputation.
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