Source: Scotsman Guide —
The FBI defines ransomware as a type of malicious software that prevents an authorized user from accessing their computer files, systems or networks, and demands that you pay a ransom for their return. Ransomware attacks can create debilitating disruptions to business operations, and the loss of critical information and data. Users often accidentally expose a business to these attacks by opening an email attachment, clicking an ad, following a link or visiting a website embedded with malware.
The problem of ransomware is growing across all industries, particularly the financial-services industry. Unfortunately, the commercial mortgage industry is not immune from these attacks.