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Cyber extortion using ransomware: An overview!

The increasing number of malware attacks on businesses has been a matter of concern for entrepreneurs, owners, and security experts alike. There are different kinds of malware that cybercriminals and hackers use, and each type of malware has its own purpose. It is important for businesses to know how malware works, so that they can implement strategies accordingly for proactive cybersecurity. One of the common types of malware is ransomware, which is used for cyber extortion. In this post, we are sharing all you need to know about ransomware in general. Apply for cyber security course in Hyderabad to learn more

What is ransomware?

For the uninitiated, ransomware is a kind of malware that’s designed to encrypt files and systems. The hacker then demands for a ransom, against which they agree to give a decryption key. The victim (read business) will be asked to pay a certain amount though a specific mode, mostly via cryptocurrencies, such as bitcoin. Ransomware is meant for cyber extortion, and it remains a major concern for large and small businesses alike, because there is no guarantee that the key for decryption will be provided after the money is paid. Ransomware is also often hard to detect, and it is critical to take appropriate measures after it is detected, to prevent further damage.

How does ransomware work?

Mostly, hackers rely on phishing emails to send ransomware via attachments. An unsuspecting employee may download that attachment, assuming it to be a valuable file, and once opened, ransomware will take over the system/network, encrypting files & data. Hackers rely on what is known as social engineering to trick users into granting access to a system or computer, which causes the encryption. On the other hand, there are certain types of ransomware that try and exploit the security flaws, to infect systems. Once the malware is done with its job, the user will get a message that files have been encrypted, and in return, a ransom will be asked.

Preventing ransomware attacks

Educating employees on safe browsing, social engineering and other means that hackers use to attack businesses is, of course, the first step. It is also wise to schedule network scans and penetration testing from time to time, and network segmentation should be used, where possible. It is also critical for companies to make the most of firewalls and antimalware software. Learn more about it at cyber security course in Bangalore

If ransomware has been detected, the device must be unplugged from the network, and necessary steps must be taken immediately.

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