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8 Types Of Ransomware Attacks You Need To Know About

Here's a look at how everything from database encryption to geofencing and stealer malware to Ransomware-as-a-Service platforms have led to new and emerging types of ransomware attacks.

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Solving The Ransomware Riddle

Ransomware installs itself on the victim's computer either encrypting the files or locking the entire system until a ransom is paid. This has forced organizations to increase their investments around securing data, network and endpoints from advanced cyber threats like ransomware.

The healthcare verticals have fallen victim to a large number of ransomware attacks due to the push for rapid digitization of medical records such as electronic patient health information. And the banking and financial services sector continues to be heavily affected by ransomware due to the growing usage of web and mobile applications for banking transactions and payments.

The ransomware protection market is expected to reach $17.36 billion by 2021, representing a compound annual growth rate (CAGR) of 16.3 percent over the previous half-decade, according to research firm MarketsandMarkets. Asia-Pacific offers the biggest opportunity for growth due to increased spending on cybersecurity in places like China, Australia and India.

From encrypting databases and backups to utilizing geofenced and stealer malware to embracing ransomware as a service, here's a look for CRN's Cybersecurity Week 2019 at eight persistent types of ransomware attacks technical and research leaders at Imperva, Malwarebytes, and Proofpoint said organizations need to be on guard against.

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