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Ransomware emerges as world’s biggest cyberthreat, India ranks 4 in number of victims

A survey by Norton by Symantec on Wednesday revealed that Ransomware is the biggest threat faced by organisations and individual consumers.

By: | Published: September 22, 2016 6:31 PM
ransomware, cyberthreat, ransomware virus, ransomware victims, ransomware protection, ransomware encryption, ransomware india, india ranks 4 ransomware Ransomware can cause various problems by hacking over your privacy and blocking access to tax returns, bank records among other things. (Reuters)

A survey by Norton by Symantec on Wednesday revealed that Ransomware is the biggest threat faced by organisations and individual consumers. The global losses caused by the malware is estimated to be in hundreds of millions of dollars. If the reports are to be believed, 57 of all the malice infections between January 2015 to April 2016 have been caused by Ransomware.

The ransomware attacks are automated, with most groups simply aiming at attacking as many systems as possible to earn more returns, which makes the Windows computers, the worst affected. Ransomware can cause various problems by hacking over your privacy and blocking access to tax returns, bank records among other things.

The report also said that the attractive returns of the ransomware business model have tempted the ever growing attackers to cash in. the number of infections is on an all-time rise with the number of ransomware families, reaching to 100 in 2015. Every ransomware variant expects one are crypto-ransomware, which makes them unbreakable. Thus the user is left with only one option; to create back to all the files and data before the malware kicks in, or pay the ransom.

The average ransom demanded in 2015 was Rs 19,670, which more than doubled within a year to Rs 45,428 in 2016. India ranks 4th globally in matters of infected customers, only behind Canada, Australia and the USA. The USA tops the chart.

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