Navigating the perils of ransomware

Extortion is a longstanding business model for criminal enterprises. Kidnapping still presents a significant business risk in some areas. 1 Vessels and their cargoes are also vulnerable to acts of piracy that entail ransom demands. 2 Although well-developed legal and security systems can reduce these physical threats to persons and property, technology presents new avenues for extortion. Criminal enterprises are adapting their business models by using so-called “ransomware” to gain control over computer networks and then demand payment in exchange for restoration. This emerging threat presents new challenges for businesses, law enforcement agencies, and policymakers.