CDSA

How Ransomware Became a Billion-Dollar Nightmare for Businesses (The Atlantic)

[svg-table-content]

In recent months, a proliferation of ransomware attacks has affected everyone from personal-computer and smart-phone owners to hospitals and police departments. An attack works like this: A virus arrives and encrypts a company’s data; then a message appears demanding a fee of hundreds or thousands of dollars. If the ransom is paid in time, the information is restored. “At the heart of this new business model for cybercrime is the fact that individuals and businesses, not retailers and banks, are the ones footing the bill for data breaches,” Josephine Wolff noted in The Atlantic back in June.