Ransomware is a type of malware that encrypts or locks your files and demands payment to access them. Although there are multiple strains of ransomware, all fall under two main types: crypto-ransomware and locker ransomware.
Regardless of the strain, ransomware is a criminal money-making scheme that is triggered by tricking users into clicking on deceptive links using social engineering tactics or by exploiting system vulnerabilities.
Some strains go a step further and mark the files for permanent deletion. The perpetrators then demand ransom payments (usually in untraceable cryptocurrencies like Bitcoin) for the private key required to decrypt and access the files.
To prevent attacks like this, managed service providers (MSPs) should adopt a layered approach that includes employee education, IT security, and business continuity and disaster recovery (BCDR) technology to achieve the best possible cyber resilience for your business and their clients.