Ransomware attacks, in which hackers encrypt an organization’s vital data until a ransom is paid, have become a billion dollar cybercrime industry according to the FBI.  Ransomware is now widely seen as the single biggest cybersecurity threat to both business and government organizations.

In many respects, ransomware is a game changer: It is incredibly easy and inexpensive for criminals to execute global attacks. At the same time, ransomware is extremely profitable as many businesses will simply pay the ransom to get their mission-critical systems and data up and running again. And even if they don’t pay out, the cost of downtime, cleaning up IT systems, and restoring backup data can significantly impact an organization’s bottom line.