Ransomware Attack – What is it and what is it impact

Author: Vinit Sinha (Head – Information Security, Cyber Security and Data Privacy, Pine Labs)

Ransomware is a specific type of malware (malicious software) designed to encrypt data stored on computer networks with the primary objective of obtaining financial gains by selling the decryption of the target’s information. Ransomware attacks have impacted industries around the globe. With the loss of sensitive information and regular operation disruption, it is estimated to be responsible for the loss of hundreds of millions of dollars annually.

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