Define “ransomware.”

Ransomware is specifically characterized as a type of malware that infiltrates a computer system, encrypts files, and subsequently demands payment from the victim to restore access to their data. The essence of ransomware lies in its dual functionality: first, it restricts access to important files or systems through encryption, and second, it typically seeks financial compensation, often in the form of cryptocurrency, to facilitate the decryption process. This malicious software can have devastating impacts on individuals and organizations alike, leading to data loss, financial damage, and significant operational disruption. Understanding ransomware is critical for cybersecurity professionals, as it highlights the need for effective backup strategies, regular system updates, and robust security measures to mitigate such threats.