Organizations everywhere are being forced to reckon with the threat of ransomware, because the number of attacks is skyrocketing.

The tactics are straightforward: Attackers use malware to block access to computer data, networks, and systems and then demand a ransom to restore it. The attacks can threaten critical data and operations, and the cost of an attack to organizations can run into the tens of millions of dollars.

In the latest episode of the Six Hundred Atlantic podcast, the Boston Fed’s chief information security officer, Anjan Bagchee, speaks about this growing threat and the increasing sophistication of the attackers.

In the interview, Bagchee says the attacks are evolving in ways that have the potential to do real economic damage. He adds the tech labor market is so tight, it’s tough for organizations to find people with the skills to prevent or mitigate attacks. And he weighs in on whether victims should consider just paying the ransom.

Listen to the episode above, on your favorite podcast app, or on the episode page.