India ranks fourth globally in ransomware attacks, according to security firm Norton
The cyber-security company said the average ransom demanded has risen over two times to Rs 45,428 in 2016 from Rs 19,670 last year.
India has ranked fourth in the world in the number of ransomware attacks (attacks where a piece of malicious software encrypts a user’s files until they pay a sum of money to recover them) according to a report by cyber-security firm Norton, PTI reported on Thursday. This form of cyber-attack has accounted for 57% of all computer infections between January 2015 and April 2016, according to the firm.
The report said nine percent of all global ransomware infections have taken place in India, with the average ransom more than doubling to Rs 45,428 in 2016 from Rs 19,670 last year. Norton by Symantec’s country manager Ritesh Chopra told reporters that such attacks can vary, from “holding treasured family photos, hijacking unfinished manuscripts for novels and blocking access to tax returns”. Chopra added there was “no guarantee” that the person holding the ransomed files would release them after being paid.
The United States has been placed first on the list, with Canada and Australia second and third, respectively. At least 100 new families of ransomware were discovered last year, according to The Hindu. Chopra said victims are being asked to pay money in the form of Bitcoins, a digital currency. One Bitcoin currently equals Rs 40,160.14, approximately.