exali.com Glossary

Insurance terminology explained in simple terms

Our glossary puts an end to insurance jargon and provides simple explanations and information from A to Z on the most common technical terms from the insurance world.
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Ransomware

What is Ransomware?

Ransomware (also known as extortion Trojans, extortion software, or encryption Trojans) is a type of malware that encrypts or blocks computer systems or files. Cybercriminals then demand a ransom to decrypt or release the victim’s data.

Ransomware meaning: The name “ransomware” is derived from the English “ransom” + “software”.

Ransomware attacks are increasing: 2017 saw a wave of ransomware attacks, targeting hundreds of thousands of computers. The number of malware programs in circulation in 2018 was 800 million.

You can protect yourself against ransomware by employing good IT infrastructure, regular back-ups and up-to-date software, training employees and being vigilant when opening e-mails.

(Related terms: malware)

Term: Ransomware

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