Cybercriminals hold SMEs to ransom

With the increase in malicious software (malware) and advancement in malware technologies, cybercriminals continue to develop and release codes to avoid detection and consequent removal.

One such malware is ransomware which holds a computer system hostage against its user by demanding a ransom for its restoration.

Internet security company Trend Micro in its 2009 forecast report says that the fourth quarter of 2009 will see a rise in ransomware targeting small-and medium-sized enterprises rather than individual home users. SMEs are large enough with money worth extorting, however they lack the infrastructure to cope with threats of an IT disaster.

As organisations tighten their belts during the current financial crisis, ransomware attacks could cause fragile companies to succumb to criminals who request massive pay-offs to avoid devastating consequences.

Experts at Trend Micro also theorize that although mobile threats are not yet considered widespread, the potential for growth is huge. Moreover, PC-based threats are already appearing on smartphones and cybercriminals typically are attracted to a large target population.

Look for virtual threats to become an even greater problem in the remaining 2009.