The changing face of ransomware

Ransomware has always been seen as one of the main sources of cyber crime, which has traditionally infected computers and networks, sometimes with devastating effects.

The main focus has tended to be to freeze people’s screens, with a tight time limit on paying a ransom, upon which they will be given a key that can unlock their frozen assets.

According to the head of the Canadian Centre for Cyber Security, the nature of the threat is growing and changing at the same time.

Sami Khoury is warning that cybercriminals are realizing that businesses and individuals are becoming more savvy about backing up their accounts, which makes it easier for them to restore systems if they have been hacked.

Khoury says that the nature of ransomware is changing significantly, with the focus shifting to stealing information from a business or company, and then demanding money for it’s return.

The theft of information is becoming a highly lucrative business. If stolen data is made public, it can have devastating effect on the business or company, both financially and reputationally, and on the people themselves whose information has been released.

Full Story – Globe and Mail