Ransomware is on the rise. These cyberattacks, in which hackers encrypt their victims’ data and demand ransom money for decryption, cost Americans more than $209 million in the first three months of 2016, according to the FBI.This suggests that ransomware losses may total $1 billion for the year. And that’s only for the attacks that were reported. Many go unreported as victims quietly pay up rather than risk losing the trust of their customers by going public. That’s because, although key precautions can reduce the likelihood of a ransomware attack, your options are limited when it comes to fighting attacks already in progress. Further, this form of malware is evolving so rapidly that traditional IT defenses are struggling to keep up.

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