Ransomware can be controlled, says Kaspersky

Despite being one of the fastest growing forms of cyber threats in recent years, ransomware – a type of malicious software which blocks access to a computer system until a sum of money is paid – can be controlled by taking appropriate steps early on.

According to Daniel Molina, strategic Latin American markets director at Russian cybersecurity firm Kaspersky Lab, ransomware "is one of the few types of cyberattacks that we don't think will grow massively because there is a risk for the attacker."

A ransomware attack typically consists of installing malware on a victim's computer, which then encrypts sensitive data (personal photos, company information) and demands a ransom to decrypt them.

Ransoms are typically requested in bitcoins to avoid tracking the sum. The amount of the ransom varies, depending on the size of the victim, but often is sufficiently low (1-3 bitcoins, US$572-1,700) to make a quick payment preferable to the potential risk of damage to one's reputation or business.

But it's not impossible to trace the money trail through bitcoins, says Molina, hence there is a risk for the attacker. The company has also been collaborating with Interpol.

Kaspersky recently launched two free tools against ransomware: Security Network, which provides real-time security business intelligence to ensure faster response times to threats; and System Watcher, which monitors suspicious activity and can potentially block it.

Current security tools in the market can unlock most of all known encryption techniques, meaning that if the attack is identified and neutralized in time, the rate of ransomware attacks will drop dramatically.

"The way to address this is to attack the root of the disease, not the symptom. If you make it more expensive for the criminal to carry out the attack than what they get in return, it will soon lose momentum," Molina said.

According to Kaspersky's Ransomware 2014-2016 report, the total number of users that encountered ransomware between April 2015 and March 2016 rose 17.7% versus the previous period to 2.32mn.

Many of the victims are SMEs. Kaspersky research also shows that 34% of all SMEs that encountered ransomware paid up, but that one in five of those actually didn't receive their data back in return.

Brazil is in the top 10 countries in terms of victims ransomware, in ninth place with 2.60%, above the US with 2.07% of the total.

The leading countries are Kazakhstan (6.99%, Algeria (6.23%) and the Ukraine (5.87%).​

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