Moneycontrol
HomeNewsTechnologyRansomware attack victim? Think it over before paying extortion money
Trending Topics

Ransomware attack victim? Think it over before paying extortion money

Huge costs are incurred in paying ransoms and it is expected to get worse if awareness and better regulation is not laid down from a grass root level. But still how does one deal after being hit by a malware? Should one pay or not?

August 03, 2017 / 03:00 IST
Story continues below Advertisement
Answer: Python

Ransomware - a malicious software designed to block access to a computer system until a sum of money is paid. It encrypts files stored on the user's computer or mobile device and renders it unreadable by the user or the device. In order to restore it for normal use, a decryption key is needed to unlock the file.

In a survey, it was found that the average cost of cyber crime attacks in the United States amounted to USD 17.36 million in 2016. Second-ranked Germany averaged USD 7.84 million in damages per company attack. According to the survey, business disruption was the most costly consequence of a targeted cyber attack on their business.

Story continues below Advertisement


Such huge costs are incurred in paying extortions and it is expected to get worse if awareness and better regulation is not laid down from a grass root level.

But still how does one deal after being hit by a malware? Should one pay or not?