2021/2022 Cyber/Data Outlook: Ransomware Attacks: Strategies For Preparation And Mitigation

Businesses' dependence on (and investment in) online infrastructure resulting from the COVID-19 pandemic, and the availability of cryptocurrency, has created an environment ripe for significant increases in the frequency and ingenuity of ransomware attacks. As the workplace continues a long-term transformation, flexible work arrangements and remote access to company data are likely to continue to provide malicious actors with ample targets. Not unlike other criminal enterprises, cybercrime continues to become more sophisticated and "businesslike" in its application.

Over the past year, these developments in ransomware - alongside a number of very prominent breaches in the public and private sectors - have prompted international concern regarding cybercrime, and are likely to generate more political willpower and co-ordinated strategies to combat ransomware in the near future. Political and business actors in Canada, including the Chamber of Commerce, are also alive