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by John W. Simek, Vice President of Sensei Enterprises, Inc.

IBM Says Corporations Are Next Ransomware Targets

August 26, 2015

Some reports have indicated that ransomware has increased by 4,000 percent. I don’t know how accurate that number is, but we have certainly seen a big jump in ransomware infections. For those that don’t know, ransomware is malware that encrypts your data and holds it “hostage” until you pay money to get the decryption key. A recent report by IBM’s X-Force threat team fears that ransomware infections will begin to target government and business entities. John Kuhn, senior threat researcher, said “My fear is they will move up to the corporate level,” adding that it's only a matter of time before the crypto guys catch up to those already assaulting large firms and begin demanding huge sums of money.

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