An update on Ransomware- a major threat to data security

Ransomware spreading cyber criminals are turning into dedicated services providers these days. As per the recent report released by F-secure on cyber crime, these malware spreading criminals are now forming into groups offering businesses different services based on their needs.

This was discovered in a recent experience of F- secure on five current crypto-ransomware variants which involved interactions with ransomware criminals lurking behind each of those variants.

The team of researchers from F-secure has found that crypto-ransomware gangs are usually willing to negotiate the cost. Three out of four variants were willing to negotiate, averaging a 29 percent discount from the original ransom fee. One of the groups also disclosed that they were being hired by one corporation to hack another corporation.

Now, to those who are concerned about the issue that whether these criminals release data as promised, after receiving the ransom, here’s an update. The experiment carried out by F-secure has discovered that 78 percent of those offering such criminal services establish a degree of trust with the victim and do keep their promise when it comes to service part.

Most of these businesses which are operating are similar to legitimate businesses, with accessible web pages, helpful FAQS on what to do when their company professionals take hold of content, free trials for file decryption, and even customer support with responsive agents to chat on other side.

Now, to those who do not want to experience any of the said menace from ransomware or their groups, here’s an update.

You can keep your enterprise data security intact by keeping your data center software’s up to date, stay cautious with emails and the attachments which are being delivered to you, have a good security software on premises, and most importantly have a backup and disaster recovery plan for data continuity.

Note- The objective of the article is not to show ransomware spreading organizations in blue light, but to make you understand how the cyber crime industry is evolving.

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