Attackers take possession of your system, leaving you at their mercy.Įncrypted in email attachments, ads, and download links, your device becomes infected once you click the file. Ransomware is a type of malware used by attackers to infect your network, encrypt the files on it, and block you out. Let’s take a look at the most common types of cyber extortion.
They can leverage Cybercrime as a Service (CaaS) by hiring the services of expert cyberattackers for the job. Interestingly, the attacker doesn't have to be the one to carry out the attack. Sadly, they always find victims.Ĭyber extortion begins with the attacker gaining access to sensitive data on your computer network or system through ad scams, phishing emails, infected websites, etc. Attackers target several people with the hope that one or two of their targets will take the bait. The majority of cyber extortion isn’t targeted at a particular organization or individual. If you refuse to cooperate with them, they can sell it to the highest bidder. When the attackers make financial demands, the amount they demand from you is likely proportional to the black market value of your data. If they are threatening you with any information, there is a high chance that you don’t want that information exposed or destroyed so they take advantage of your fear.
We have seen the most notorious cybercrime gangs taking down some of the biggest organizations in the world.Ĭyber extortion perpetrators thrive on the value of the information at their disposal. There has been a spike in cyber extortion in recent years as more organizations and individuals now store sensitive data online. Cyber extortion is a cybercrime in which attackers retrieve your personal or financial data and threaten to cause you damages if you fail to meet their ransom demand.
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