However , modern ransomware certainly merits a classification as one of the most evolving sectors of cybercrime in 2017 . Though it is quite difficult to calculate the overall damage caused by ransomware in 2016 , some researchers state that cybercriminals received over $ 1 billion in ransom payments Attack.Ransom last year . Others mention a 3,500 % increase in the criminal use of infrastructure that helps run ransomware campaigns . Carbon Black says that ransomware is the fastest growing malware across industries , up 50 % in 2016 . Technology ( 218 % ) , utilities and energy ( 112 % ) and banking ( 93 % ) saw the highest year-on-year ransomware growth last year . Due to an important lack of qualified technical personnel and other resources , law enforcement agencies are globally unprepared to detect , prevent and prosecute this type of digital crime . Moreover , more and more cases of ransom payment Attack.Ransom by the police have become public , while those police officers who dare to resist take a substantive risk . There is the Texas police who lost eight years of their investigative work and all of the evidence by refusing to pay Attack.Ransom cybercriminals . This sad statistic explains why the majority of despaired victims of cybercrime fail to report it to the law enforcement agencies . Attackers can easily rent a Ransomware-as-a-Service ( RaaS ) infrastructure for as low as $ 39.99 per month , making up to $ 195,000 of monthly profit without much effort in comparison to other niches of digital fraud and crime . The business of ransomware has become so attractive that some cybercriminals don ’ t even bother to actually encrypt the data , but just extort money Attack.Ransom from their victims with fake malware . The victims are so scared by media stories about ransomware , combined with law enforcement agencies ’ inability to protect them or at least to punish the offenders , that they usually pay . The new generation of ransomware attacks Attack.Ransom IoT and smart devices , locking not only mobiles and smart TVs , but also doors in hotels and air conditioning systems in luxury smart houses . Criminals switch from file encryption to database encryption and web applications , demonstrating a great scalability of ransomware tactics . To increase their profits , hacking teams behind the ransomware campaigns now threaten to send the victim ’ s sensitive data to all of their contacts instead of just deleting it . Cryptocurrencies allow attackers to receive online payments almost without any risk of being traced and prosecuted . Despite the media hype around blockchain ’ s ability to reinvent and improve the world , so far only the cybercriminals have entirely leveraged the full potential of this emerging technology . A simple business model , high profits , accessibility and affordability of resources to deploy large-scale attacking campaigns , and low risks in comparison to other sectors of ( cyber ) crime , assure the flourishing future of ransomware . All of this without mentioning the problem of global inequality actually causing the cybercrime , which I briefly described in Forbes recently . Nonetheless , it does not mean that organizations should give up . The FBI confirms the skyrocketing problem of ransomware , but suggests relying on prevention rather than paying ransom Attack.Ransom to the criminals . PwC also suggests to plan and prepare the organization to this kind of incident in order to have internal capabilities to recover without suffering important financial losses . Some cybersecurity vendors , like SentinelOne , contractually guarantee protection and provide a financial insurance for their clients .