Cyberextortion refers to an attack or threat of attack on a computing system or server involving a demand for ransom from the owner in return for stopping the attack. One of the most common forms of cyberextortion, Ransomware attacks are a major threat to cybersecurity of banking and financial institutions, government and corporate. Other types of cyberextortion include Distributed Denial of Service (DDoS)—an organized attack against a computer system that threatens to destroy the confidential data of corporate or government unless a ransom is paid to blackmailers. Essentially, the hacker in agains access to an organization’s confidential data and identifies the weak points in order to extort funds.
Posted on May 2, 2018