Acronis True Image: Backup, recovery fail with error "Read error or data content is corrupted"

Applies to:

Both Windows and Mac versions of Acronis True Image (any year edition).

Symptom

1. You try to run backup or recovery task in Acronis True Image, either automatically by schedule, or manually.

2. The task fails with the error message "Read error or data content is corrupted":

Mac:

Windows: