Ransomware and its Impacts on Society

IS SECURITY 0
IS Security and Risks
Management

IS SECURITY 1
Table of Contents
Introduction.....................................................................................................2
Ransomware and its impacts on society.........................................................2
Variants of ransomware attacks.....................................................................4
CryptoLocker................................................................................................4
Cerber..........................................................................................................4
WannaCry.....................................................................................................5
The working mechanism of ransomware........................................................5
Potential threats posed by ransomware..........................................................6
Data breach..................................................................................................6
Data loss.......................................................................................................7
Financial loss................................................................................................7
Conclusion/ Summary.....................................................................................7
References.......................................................................................................9

IS SECURITY 2
Introduction
ITech is an information technology-based organization that uses data
centres to record and store the reliable data of consumers. To improve the
performance of the organization, the management team adopted IT systems
and computer networks but security is a major issue associated with the IT
networks. It is identified that ransomware is one of the common security
attacks faced by the organization that directly impact on the sensitive data
of users (Mohurle, and Patil, 2017). The purpose of this research is to
examine the key aspects of ransomware and evaluate the working principle
of this attack. As an IT consultant, it is very important to provide a platform
where employees and management team can understand the security
attacks linked with the IT systems and networks. This report will cover
numerous sections including ransomware, impacts on the society, and
variants of this attack and working mechanism of ransomware.
Ransomware and its impacts on society
The term ransomware is defined as a malware attack that occurred in the
area of information technology and computer networks. It is one of the
danger cyber-attacks that mainly impact on the privacy of the companies
and ITech is an example that also suffered from such kind of security issues.
In such kind of security attack, the data on a user’s computer is blocked or
encrypted with the help of malicious tools and demand money from the
organization (Richardson, and North, 2017). In the last few years, the use of
information technology has increased rapidly due to which hackers are able
to perform malicious related activities.
It is identified that ransomware attacks are mainly carried out with the help
of Trojan process which is designed by the criminals from the perspective of
a data breach. A recent study identified that in the year 2018 more than
181.5 million ransomware attacks were implemented by the hackers and