What is Ransomware? Malicious Software?

Sep 1, 2023 | Blog

“ Singapore faced more

cybercrime, phishing and

ransomware threats in 2021”

“ Singapore faced more cybercrime, phishing and ransomware threats in 2021”

Ransomware is a type of malicious software (malware) that encrypts or locks a victim’s files or entire computer system, making them inaccessible. The attackers behind the ransomware then demand a ransom payment from the victim in exchange for providing the decryption key or unlocking the system. In essence, ransomware holds a victim’s data hostage until the ransom is paid.

The ransom is usually demanded in cryptocurrency, such as Bitcoin, to make it difficult to trace the attackers. They often use anonymous communication channels to communicate with the victim and facilitate the payment process.

Ransomware attacks can occur through various vectors, including:

  • Phishing emails:

Attackers may use deceptive emails to trick recipients into clicking on malicious links or downloading infected attachments, which then install the ransomware on the victim’s system.

  • Exploit kits:

These are pre-packaged sets of exploits that target known vulnerabilities in software, allowing attackers to deliver ransomware through compromised websites or malvertisements.

  • Remote Desktop Protocol (RDP) attacks:

Cybercriminals may exploit weak or exposed RDP connections to gain unauthorized access to a system and deploy ransomware.

  • Malicious downloads:

Ransomware can also be delivered through compromised software downloads from unreliable sources or illegal software repositories.

Once the ransomware is executed on a victim’s system, it starts encrypting files and displays a ransom note with instructions on how to pay the ransom. The ransom amount varies, and victims are often pressured to pay quickly to avoid permanent loss of their data. However, there is no guarantee that paying the ransom will result in the decryption key being provided, and it may also encourage further criminal activity.

Ransomware attacks can have devastating consequences for individuals, businesses, and even government organizations. Regularly backing up data, keeping software up-to-date, using strong security measures, and educating users about phishing and other attack vectors are some of the preventive measures against ransomware threats.

We are information security consultant that can help your organization to implement Information Security Framework based on ISO/IEC 27001:2022, do reach out to us