Ransomware attacks are a favorite tactic among cybercriminals, and it’s easy to see why. The payouts can be big and fast. Two cities in Florida, for instance, paid almost $1 million this past summer after their computer systems were paralyzed for several days, according to a New York Times report.
Cybercriminals have achieved massive success by locking access to important systems and/or data and demanding payment in return for access. A successful ransomware attack can lead to data exfiltration, extortion and sometimes the permanent loss of data. Attacks like this are on the rise, increasing over 350% since 2018, according to Trend Micro.
Ransomware presents major risks for organizations responsible for public data — especially state and local government and education (SLED) or state, local, tribal, and territorial (SLTT) entities.
