There’s no question that ransomware is a growing threat. High-profile attacks that crippled multiple U.S. cities, including Baltimore, Maryland, and Park City, Utah, made headlines in 2019. However, those attacks reflect only the public side of a much larger cybercriminal industry that constantly innovates its capabilities. In fact, ransomware is one of the fastest-growing threats in cybersecurity, with damages predicted to build to $20 billion globally by 2021, up from “only” $345 million in 2015. This paper explains the evolution of ransomware by breaking down the new trends in online extortion threats, and provides prescriptive advice on how to protect and secure your organization against such an attack.