Ransomware - Exploring the Electronic Form of Extortion

Using Internet has become a routine in our day to day life. Availability of Internet on mobile devices has made our life hassle free. From routine activities like paying utility bills to critical activities like banking transactions are all trouble-free and quick to perform now. As more and more people have started using Internet, the number of cyber crimes and cyber attacks has also increased. Attackers are using innovative techniques to target internet users and gain direct or indirect benefit on successful attack. One emerging form of attack which is gaining attention is Ransomware, where attacker gets exclusive access on victim's computer and/or files by installing malicious code and demands to pay money to regain access to computer/files. It is a malware available in various forms and distributed over Internet computers using varieties of infection mechanism. It is the most destructive malware as damage caused by it is mostly severe and unrecoverable. This paper describes various infection mechanisms used by attackers to commit Ransomware attack. The monetization of ransom is also discussed. It is next to impossible to find a safe way out, once we are victim of Ransomware attack. The best strategy is to take preventive measures so that we do not become a victim. This paper also suggests guidelines for safeguarding against such attacks.