Ransomware: The Cyber Extortionist

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Author(s): Rajashree Chaurasia (Government of NCT of Delhi, India)
Copyright: 2018
Pages: 48
Source title: Handbook of Research on Information and Cyber Security in the Fourth Industrial Revolution
Source Author(s)/Editor(s): Ziska Fields (University of Johannesburg, South Africa)
DOI: 10.4018/978-1-5225-4763-1.ch003

Keywords: Cyber and Network Security / Information Science Reference / Information Security & Privacy / Security & Forensics

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Abstract

“Ransomware” is a type of malware that tries to extort money from its victims by hijacking the victim's computer in some way and holding it to ransom. It renders the computer unusable until a ransom amount is paid to the extortionist. And it is very unfortunate that, in many cases, even after the ransom is paid, the victim's computer is not released. Ransomware, as we know it, is gaining popularity at an immense rate among the most notorious cyber-criminals of the world. It isn't just a virus, it's a damned good game plan to becoming a millionaire in a matter of months! This chapter details what ransomware is, how it originated, which families of attacks it falls under, how ransomware is classified, the impact of ransomware on a global scale, the life cycle of a typical ransomware attack, mitigation and containment strategies, trending strains of 2017, and future trends in ransomware attacks. In future, these attack types will dominate our industries and wreak havoc, destroying life and property, if left unchecked.

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