Issue 621 Ransomware June 26, 2015

Ransomware is a new term to describe a new type of crime.  Let us discuss.

What is Ransomware?:  Ransomware is when you get hacked by a hacker such as through email, advertisements or visiting infected websites.  At that point, your data/secrets get stolen or in most cases encrypted so you cannot access it.  From there, you either pay up, or you can never get the files back.  In the case of encryption, the now typical form of ransomware, your files, or a business's files become inaccessible costing the individual money and distress.  Hence, the hackers create a need for the individual to get the information back.  

Hackers vs. people:  Hackers have used ransomware to make hundreds of dollars.  Some hackers do not give the information back though or they refuse to unlock it.  Additionally some victims refuse to pay as well.  So hackers have been developing a sweat spot moneywise, where the money is payable to increase the chances of people paying up despite the fear that victims may not get their data back.  As such, typical ransoms are $800 or less.  

They want your money, and they are not afraid to spread the technology around.  Apparently these hackers now invest time into tweaking their code to defeat anti-virus software, and then they may sell or give this software as a kit to other hackers.  To make sure that they keep themselves safe, the kits even include transaction software that allows the victim to pay the hacker in untraceable currencies like Bitcoins.  In short, they are getting rich while keeping themselves safe.

Conclusion:  We exist in a technological age where we are dependent on computers.  As such, ransomware is a smart move by criminals seeking to get rich with minimal risk to themselves.  Governments are getting wise to this method of crime and beginning to act, but the only sure thing to defeat them is for the government to share their information with anti-virus software companies and for companies to share information as well.  From there the shared data can be used to better counteract a hackers virus program all that much faster to minimize the victims of this crime.  Additionally, finding ways to encrypt the information encrypted by the hacker so that they do not have to pay will potentially make ransomware unprofitable which seems to be in my opinion the only way to stop this criminal act.  This is now a popular crime (though it is preferable to actual kidnappings) and we got to work on a way to stop it.