Rising Threat of Ransomware: Security Threats, Countermeasures and Future Aspects

Abstract

A malware that counts for ransom in exchange for precious data and docs is what a malware Ransomware is, whose threat is rising high and its future aspect is that industries, economic infrastructure, cities and even nations are at high risk. Hackers are becoming increasingly aggressive about what they want. While many online fraud attempts have been somewhat covert, the latest trend is ransomware, including an incredible increase in mobile ransomware attacks. These attacks involve taking a device electronically hostage until the device owner pays money to get their data back. It prevents or limits users from accessing their system, either by locking the system's screen or by locking the users' files unless a ransom is paid. The fee ranges from $300 to $1000. Ransomware operators commonly specify ransom payments in bitcoins. Ransomware is considered “scareware” as it forces users to pay a fee (or ransom) by scaring or intimidating them. While these types of attacks have been around for many years, their threat level has only recently increased. There is no silver bullet when it comes to stopping ransomware till date, but a multi-layered approach that prevents it from reaching networks and systems is the best way to minimize the risk. Looking forward to high future risk on precious data and damage of money, some tools have been developed for enterprises, small and medium business and home users. The best defense is to keep backups and use common sense and avoid downloading executable files unless absolutely need to.