What are the consequences of a ransomware attack?

Ransomware attacks can have significant impacts on both individuals and businesses. For individuals, the consequences can include loss of personal data, financial loss due to ransom payments, identity theft, and emotional distress. For businesses, ransomware attacks can lead to disruption of operations, financial losses, tarnished reputation, legal liabilities, and potential regulatory fines. The severity of consequences can escalate depending on the scale of the attack, the sensitivity of the data affected, and the effectiveness of response measures taken. In extreme cases, ransomware attacks can cripple businesses, leading to permanent data loss and even bankruptcy.