Cyber extortion is a category of cybercrime that involves digitally threatening or coercing someone to do something against their will. Cyber extortion typically disables an organization’s operations or exposes an entity’s valuable assets such as confidential data, intellectual property or infrastructure systems. A cybercriminal will then threaten organizations or individuals to pay a ransom to prevent further cyber attacks or regain access to their sensitive files or operations.
This week at the World Economic Forum Annual Meeting, SecurityScorecard published the first Cyber Resilience Scorecard, offering leaders and decision-makers a comprehensive and global view of global cyber risk. SecurityScorecard identified a strong correlation between a country’s cyber risk exposure and GDP, which underscores that a nation’s economic prosperity is deeply intertwined with its ability to navigate the complex landscape of cyber threats.