cyberextortion


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Related to cyberextortion: Cyberstalking, Cyber terrorism

cyberextortion

A crime in which payment is demanded in order to prevent or stop attacks on an organization's Web site, network or computer systems. In 2004, a Carnegie Mellon survey stated that only one out of five cyberextortionists who threatened an attack and did not receive payment actually went through with it. See cybercrime.
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9% of the companies out there, they are at risk of someone hacking into the system and committing cyberextortion against them.
One of the newer and fastest-growing cyberextortion methods is ransomware, a category of malicious software that is used to disable a computer and hold it hostage.
Cyberextortion threats can take many other forms as well.
MG: Should a company pay a cyberextortion demand, especially under a scenario in which they know the attack capability of the bad guy is real?
In fact, according to the SANS Institute, a computer security training, certification and research organization, the FBI receives more than one report of cyberextortion every day.
The first step is to create a cyberextortion response policy.
But specific steps can be taken by executives to mitigate the damage, including creating a cyberextortion response policy, implementing technical mitigation steps and closely liaising with law enforcement.