Ransomware
Also called: hostage software or extortion software
Ransomware is part of the malware family. Malware is an amalgamation of the words "malicious" and "software." The word "ransom" stands for "ransom."
Ransomware is a form of malicious software (this can include viruses or Trojans) that is deployed as a means of blackmail. This software is able to encrypt and/or lock files and systems of a remote computer. Then the cybercriminals demand an amount of ransom from the owner as a condition to regain access over the files. This is why ransomware is also called hostage software or extortion software.
How a hostage software attack works
A hostage software attack can be deployed in several ways but in most cases, gaining access (from the malware) to a computer system is the first step. This first step can be taken by sending an innocent-looking e-mail message (supposedly sent by a bona fide source) asking to download an invoice or other important document. However, the file extension is masked by the hackers making victims think they are clicking on a PDF, doc or Excel file. However, this is an executable file doing its work in the background. The malware will make a contact with the server. Then, this ransomware will lock or encrypt the entire operating system or some specific files. It will then demand a ransom from the victim. A ransom message will appear on the screen indicating how much must be paid and in what manner. In most cases, a deadline is attached to paying the ransom. if this deadline is not met, the amount to be paid goes up.
Why businesses are prime victims of ransomware
Businesses in particular are often victims of a hostage software attack because these organizations have important information as well as the financial ability to pay the ransom demanded. One well-known hostage software attack is the 2017 Wannacry ransomware outbreak.
Difference between ransomware and a virus
Much of the risk of a ransomware outbreak can be reduced by using advanced security software. This software is also called antivirus software but it is worth mentioning for completeness that ransomware is not a virus. A virus infects computer files and is capable of multiplying. Ransomware involves rendering computer systems unusable by encrypting and scrambling files.
