It’s been a long time since mobile phones were just phones. With more processing power than some desktops and laptops, today’s smartphones have become the computing platform of choice for many users. According to one survey, more than 90 percent of corporate employees use a smartphone for work every day.

Remember the early days of ransomware attacks? The approach seems almost comical today. Send an email to as many people as possible about needing help transferring millions of dollars to an American bank from a far-off land. Tell users that they’ll get a nice cut of the loot if they click a malicious link.

Phishing attacks are one of the most significant threats organizations face. According to the Verizon 2021 Breach Investigations Report, 36 percent of breaches are connected in some way to a phishing attack, up 11 percent from the previous year. What’s more, threat actors continue to refine their techniques to increase the odds that a user will fall for the attack.

With digital extortion on the rise, organizations should develop detailed incident response plans.

In just a few short years, ransomware has progressed from a digital nuisance to a full-blown global crisis. Federal authorities say more than 4,000 ransomware attacks have occurred every day for the past five years, resulting in billions of dollars in damages to the global economy.

Ransomware is a cash cow for cybercriminals, netting more than $350 million in ransom payments last year — although it is likely much more because many victims don’t report attacks in order to preserve their reputation. It’s easy money for the crooks because most companies just pay the ransom so they can regain access to their encrypted data and get back to business as quickly as possible.