Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cybersecurity
    • Cybersecurity

    Ransomware Scams Rising in North America, Europe: Symantec Report

    By
    Robert Lemos
    -
    November 9, 2012
    Share
    Facebook
    Twitter
    Linkedin

      Once thought a niche scam by cyber-criminals, ransomware is making a resurgence in Western Europe and North America, security firm Symantec said in a Nov. 8 report.

      The scam, in which malware encrypts data or makes a victim’s computer unusable unless a specific code is purchased, has likely reaped at least $5 million in the past year, according to the company. In a recent campaign discovered by the firm, for example, almost 70,000 computers were infected in a single month, of which 2.9 percent paid the ransom to unlock their systems—that totals $400,000 for a single month, the firm said.

      “This is as bad as it comes, in terms of hitting below the belt,” said Vikram Thakur, principal researcher for Symantec Security Response. “The attackers are targeting Europe and the U.S., because they think that people will pay up.”

      The latest ransomware attacks first targeted Russia and other former Eastern Bloc countries in the last two years. Attacks had jumped by half from the first quarter to the second quarter of 2012, according to security firm McAfee. In late summer, however, security experts noted that the attacks had started targeting victims in several Western European nations, including Austria, France, Germany, the Netherlands, Switzerland and the United Kingdom. Now, North American computer users are targeted as well.

      The attack usually occurs through a Web exploit or a so-called drive-by download, where the user is redirected to a Website that attempts to install malware on their system. Most often, the attack happens without any indications to the user that their computer has been compromised.

      While past ransomware scams would encrypt the hard drive or critical files and charge for the decryption key, the latest variants tend to lock the system by gaining system level access and blocking certain components from running. The program then displays a warning imitating local law enforcement that threatens to have them arrested if they do not pay a fine within 72 hours.

      To lend additional sinister urgency to the ransom demand, one message displaying the seal of the U.S. Department of Justice warns victims that their IP address was used to visit explicit child abuse sites, adding that “spam-messages (sic) with terrorist motives were also sent from your computer.”

      Unlike other popular scams, such as fake antivirus software or banking trojans, ransomware prevents a victim from using their system or data. Unable to access their computer system, the victim typically becomes desperate, Thakur said.

      “You have gone from being able to use your computer to nothing at all, and you have to rely on another computer or the phone to contact support or find help,” he said.

      Symantec and other antivirus firms do not recommend paying. Many times the criminals will not send a code key and just take the users’ money. While some businesses attacked in Australia who complied with ransomers demand for Au$3,000 have gotten encryption keys, victims can never be sure, says Thakur.

      “At the end of the day, they are asking for money with no guarantees,” he said. “We have seen that code for uninstalling this ransomware does exist, but we believe that most of the groups don’t even have that function in their malware.”

      Robert Lemos
      Robert Lemos is an award-winning freelance journalist who has covered information security, cybercrime and technology's impact on society for almost two decades. A former research engineer, he's written for Ars Technica, CNET, eWEEK, MIT Technology Review, Threatpost and ZDNet. He won the prestigious Sigma Delta Chi award from the Society of Professional Journalists in 2003 for his coverage of the Blaster worm and its impact, and the SANS Institute's Top Cybersecurity Journalists in 2010 and 2014.

      MOST POPULAR ARTICLES

      Big Data and Analytics

      Alteryx’s Suresh Vittal on the Democratization of...

      James Maguire - May 31, 2022 0
      I spoke with Suresh Vittal, Chief Product Officer at Alteryx, about the industry mega-shift toward making data analytics tools accessible to a company’s complete...
      Read more
      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2022 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×