Content area
This qualitative phenomenology study was a collaborative effort aimed at understanding the evolving tactics and techniques of modern ransomware threats targeting businesses' digital assets. Previous studies have proposed several security approaches to respond to ransomware threats. However, ransomware actors have continuously evolved their attack methods, making it more challenging for businesses to detect or prevent. This study interviewed 17 data security experts who deal with modern ransomware threats, and their insights were crucial in shaping the study's findings. Data were collected using open-ended interview questions and thematic coding analysis to identify eight major recurring themes and 12 specific subthemes, providing an in-depth understanding of the impact of modern ransomware attacks on business organizations. The study also examined the current trends associated with the most common ransomware attack vectors that impact business organizations' digital assets. The findings of this study indicated a significant shift in ransomware tactics and techniques, offering actionable insights that could help various data security stakeholders enhance their understanding of the current and future ransomware threat landscape. In this context, the study's findings highlighted the pressing need for continued innovation to keep pace with the evolving landscape of ransomware. The findings of this study may provide a solid foundation for data security stakeholders to understand better the evolving tactics and techniques of modern ransomware threats. Building on the findings of this study, security teams within their respective business organizations may develop effective defensive mechanisms to respond to the risks posed by modern attacks on businesses.