New & more dangerous ransomwares to take over cyber world, say experts

HYDERABAD: Following the recent spate of ransomware attacks across the globe, the threat of such attacks is only expected to get bigger, warn experts. Next in line, after a slew of versions like Wannacry, zero day attacks and Petya attacks is the provision of `ransomware-as-a service'.
Here's what it means: encouraged by the profitability of ransomware, this is a service that criminals have started offering to cyber users, enabling anyone to extort from their targets.In return, the user has to be pay a part of the earnings to facilitator, experts explain.
“Ransonware attacks are far from over. Unscrupulous coders are deploying complex, hindering and extortion methods to go undetected. New ransomwares are getting deployed with time limits after which the files automatically get deleted. Even the ransom -which is calculated based on the sensitivity of informa tion -demand made, increases with every passing hour.Options to decrypt files for free are made available if the victim becomes the attacker himself and infects two or more other people,“ said Zaki Qureshey , founder and chairman, E2 Labs, a cyber security company .
While Wannacry attacks were inflicted on the Andhra Pradesh police website, the latest Petya attacks have not been reported in the Telugu states so far. Yet, experts stress the need for enhancing cyber security measures given the ever increasing threat of ransomware attacks and the fact that the city has been on the attackers' hit list for a while now. An estimated 60 companies, experts say , have fallen prey to ransomware attacks over the last one and a half years. Also the presence of banking, finance and the defence sector has upped the risk level.
The reason for these attacks are not just money , say experts. “An analysis of the latest round of attacks show that the attackers are not just going after money but are trying to create panic among corporates and public by completely hijacking their assets.The hacking community is also choosing targets on the basis of which target will help them gain more visibility ,“ ex plained Bharani Kumar Aroll, secretary Society for Cyberabad Security Council (SCSC).
Adding that ransomware attacks are indeed expected to get bigger he said that the SCSC is planning on conducting a cyber security summit later this year to devise plans to protect the entire industry from such attacks.