Balanced News: In a new hacking crime wave, much more personal data is being held hostage

In a new hacking crime wave, much more personal data is being held hostage. Criminals are focusing on stealing customer or employee data and then threatening to leak it publicly. The International Data Corporation predicts firms will spend over $219 billion on cybersecurity this year. cybersecurity professionals become adept at solving decryption after ransomware attacks. Chris Pierson, founder and CEO of Black Cloak, a digital executive protection company, said companies understand the growing threat of data extortion after public breaches. Joe McMann, head of cybersecurity services at Binary Defense, a cybersecurity solutions provider, said the new battleground is data extortion.