Cybersecurity and Ransomware: Threats, Impact, and Mitigation Strategies

Abstract

Ransomware has emerged as one of the most pervasive and damaging cyber threats facing organizations worldwide. By encrypting critical data and demanding payment for its release, ransomware attacks disrupt operations, incur significant financial losses, and threaten organizational reputations. This paper explores the current landscape of ransomware in cyber security, analyzing its evolution, methodologies, and impact on various sectors. Through a comprehensive literature review and case studies of notable ransomware incidents, the study highlights the tactics employed by cybercriminals and the vulnerabilities exploited. The research underscores the importance of a multi-layered cybersecurity approach, including advanced detection technologies, employee training, and robust incident response plans. Recommendations are provided for organizations to enhance their resilience against ransomware attacks, emphasizing proactive measures and collaboration among industry stakeholders. The findings aim to inform cybersecurity professionals, policymakers, and organizations about effective strategies to combat the growing ransomware threat.