Ransomware is a computer virus that takes over the target device, restricts the owner’s access, and demands the victim to pay a ransom to get their device back. Modern ransomware can steal files, target locally-stored backups, spread through the network, and even bring large organizations to a standstill.

The device can get infected through a malicious email, a spoofed website, or in many other ways. Then, the attackers may scan the device for something valuable or, if pressed for time, start encrypting everything at once. After encrypting the data, the ransomware will display a ransomware note with detailed instructions on how to create a cryptocurrency wallet and send Bitcoin to the attackers’ address.

In Canada, two of the most recent high profile ransomware attacks have been to the Toronto Transit Commission (the largest public transportation network in Canada’s largest city) that knocked down some of its communications system and a provincewide disruption of health-care services in Newfoundland and Labrador that affected thousands of appointments and procedures, including those involving COVID-19 testing. The annual Canadian Internet Registration Authority (CIRA) Cybersecurity Survey says nearly 70 per cent of Canadian organizations facing a ransomware attack last year paid the demands to avoid downtime, reputational damage, and other costs.

In 2021, ransomware has increased to thousands of attacks per day and is predicted to cost businesses over $20 billion. Many successful attacks may be left undisclosed.