This book explores the genesis of ransomware and how the parallel emergence of encryption technologies has elevated ransomware to become the most prodigious cyber threat that enterprises are confronting. It also investigates the driving forces behind what has been dubbed the ‘ransomware revolution’ after a series of major attacks beginning in 2013, and how the advent of cryptocurrencies provided the catalyst for the development and increased profitability of ransomware, sparking a phenomenal rise in the number and complexity of ransomware attacks.
This book analyzes why the speed of technology adoption has been a fundamental factor in the continued success of financially motivated cybercrime, and how the ease of public access to advanced encryption techniques has allowed malicious actors to continue to operate with increased anonymity across the internet. This anonymity has enabled increased collaboration between attackers, which has aided the development of new ransomware attacks, and led to an increasing level of technical complexity in ransomware attacks. This book highlights that the continuous expansion and early adoption of emerging technologies may be beyond the capacity of conventional risk managers and risk management frameworks.
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