Ransomware is a type of malware that encrypts a victim’s files, making them inaccessible, and demands a ransom payment in order for the decryption key to be released. Ransomware is typically spread through phishing emails or by exploit kits that take advantage of unpatched software vulnerabilities.
The business model of ransomware is simple: infect as many victims as possible and extort money from them. In order to maximize profits, ransomware attackers will often target businesses or organizations who are likely to have sensitive data that they can’t afford to lose access to.