Cyberattacks using the most common forms of ransomware spiked during November, continuing the ongoing trend for growth in the use of the file encrypting malicious software by cyber criminals.

Ransomware has exploded in 2016 and is increasingly targeting business networks instead of individual users. The total cost of damages related to these attacks is set to top $1 billion this year.

According to the monthly global threat index by cybersecurity researchers Check Point, the number of attacks using the Locky and Cryptowall variants of ransomware rose by 10 percent in November when compared with the previous month.

Locky also continues to feature as one of the world's most prevalent forms malware, ranking as the second most common threat in Check Point's index, accounting for six percent of all known attacks.

Ultimately, Locky - and other forms of ransomware - are successful for one reason; because the attacks are easy to carry out and victims are willing to pay to get their data back.

Read more: Watch out: These are biggest ransomware threats and they've grown even larger | ZDNet