Storing data electronically is convenient for businesses across industries. While the storage abilities of the Internet benefit many, the drawback is that online data is always at some level of risk for cybercrime. As internet access expands worldwide, so too does the volume of business taking place online. Sharing data across multiple apps and clouds, among other acts, increases the opportunity cyber criminals have to exploit company weaknesses. Cyber crime is one of the most lucrative criminal ventures. In 2016, ransomware caused $209 million in damages. By 2020, that figure exploded to $170 billion. Even large corporations are not
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