While the WannaCry ransomware and Petya – a wiper disguised as ransomware – are two of the most recent headline-grabbers in the security world,  the truth is that we’ve been seeing this type of attack become more common over the past few years. Because data is the new oil in the digital economy, ransomware attacks that restrict access to important data until the attacker is paid are becoming increasingly common and creating a series of after-effects that will ripple out for some time.

As these attacks become more common, everyone will need to better understand the types of ransomware, how they work, and what their broader effects will be on the IT and IT security industries.