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Ransomware is a growing problem for American businesses — particularly small and medium-sized businesses. In just the first nine months of 2019, there were nearly 152 million ransomware attacks.

They are getting more sophisticated. Most efforts to thwart hackers rely on better training and better identifying malware. But there are larger forces at play that no single business or coalition of businesses can adequately address. In this episode of CYBERR24, presented by VLCM, we are joined by Matt Sorensen of Formidify as we take a look at three elements driving the rapid growth of ransomware. 

Security Boulevard: How the Ransomware Economy Has Grown

Element #1: Socio-economic conditions for STEM Educated Citizens of Eastern European Countries

Element #2: Mainstream Development of the Cryptocurrency Ecosystem

Element #3: Mass Availability of cheap Malware and Free Hacking Tools

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