Ransomware Virus | Cyber Blackmail Prevention

Ransomware on the Rise in 2016

Ransomware, a type of cyber blackmail malware, rose in popularity in 2015. The experts at Symantec, the developer of the popular Norton antivirus program, suggest that about 5,700 computers were infected by a ransom virus every day over the last two years. And, with these programs demanding between $60 and $200 a piece to unlock users’ computers, cyber criminals were able to earn over $33,000 per day.

Experts also agree that this cyber-crime will likely grow in 2016 with high-risk targets including fantasy sports sites, cloud brokers, and professional service providers.

But, as scary as ransomware can be, understanding how it works will help users avoid becoming victims of it. Of course, before something can be protected against, one needs to know what it is they’re trying to avoid.

What is Ransomware?

Ransomware is a particularly nasty form of malware that encrypts all of the files on the infected computer and then informs the computer’s owner that in order to “unlock” their computer and return it to normal, a fee must be paid via Bitcoin or a prepaid cash voucher. Most of these threats come with time-sensitive deadlines so scared users feel more pressure to pay.

There are essentially three different types of this virus, with some forms more severe than others. The least dangerous type of ransomware is what is known as “scareware.” This type of malware is commonly found in illegitimate antivirus programs that claim they have uncovered a long list of potential threats on a computer. The only way to protect the files from being corrupted is to pay for a service to wipe the threats from the computer.

Another type of ransomware locks the computer so it can’t be used. Often, the user receives a message that looks like it is from Homeland Security, the FBI, or some other government agency. It usually says that the user violated a law and that they are now being fined.

The last type of ransomware, and the most dangerous, is the type that locks all of the user’s files and encrypts them using a special key. Only after paying the “ransom” will the hacker release the key so the user can unlock their computer. There is usually a countdown clock included on the screen with a message that says if the payment is not made by the time the clock reaches zero, the key will be destroyed.

What Happens if My Computer is Hacked by a Ransom Virus?

As scary as it may be to receive a ransomware warning with a payment demand, it is important not to jump the gun. You may still be able to regain control of your computer, remove the malware, and avoid paying a criminal by using a few simple tips.

One way is by entering Windows’ Safe Mode and running an on-demand virus scanner to identify and remove the virus. If the malware prevents you from entering Safe Mode, then you might still be able to perform a System Restore to a point in time before the virus showed up on your computer. You can also create a Recovery Disc on another, uninfected computer running the same version of Windows and then boot the infected computer to the disc so you can access the repair tools. Another option is to run a virus scanner from a USB drive.

If all else fails, performing a factory restore will usually resolve the issue, although doing so will result in you losing all the files stored on the infected computer.

How to Lower Your Ransomware Infection Risks

The best way to protect your computers from this type of virus is to have up-to-date security software installed on all of your devices. Thousands of new malware variants are running on any given day, and having out-of-date security software will not protect you from them all.

In addition to ensuring that your security software is current, you should also make sure your operating system, web browser, and any plug-ins you have on your computer are also updated. If you’re a service provider that maintains a large store of customer data, then having a cyberinsurance policy is going to be something to consider in 2016 if you don’t already have one. By keeping all of your software up-to-date and adding the extra layer of protection afforded by cyberinsurance, you’ll be doing your best to minimize your vulnerability risks.