Forbes December 9, 2024
Heather Wishart-Smith

Ransomware continues to dominate headlines as one of the most pervasive threats to businesses across the globe. Ransomware attacks have grown in complexity and audacity, targeting various industries and causing substantial financial, operational and reputational damage. The numbers are staggering: the Federal Bureau of Investigation’s Assistant Director of Cyber Bryan Vorndran describes ransomware as the agency’s “most high-profile cybercriminal threat,” with over 2,800 incidents reported in 2023. However, the full scale of the problem is likely much more extensive, as the FBI’s infiltration of the Hive ransomware group revealed that only 20% of the group’s victims reported their cases to law enforcement.

Ransomware’s Expanding Reach

Ransomware attacks are no longer limited to encrypting data for ransom. Criminals have embraced “dual...

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