The U.S. is presently combating two pandemics–coronavirus and ransomware attacks. Both have partially shut down parts of the economy. However, in the case of cybersecurity, lax security measures allow hackers to have an easy way to rake in millions.
It’s pretty simple for hackers to gain financially, using malicious software to access and encrypt data and hold it hostage until the victim pays the ransom.
Cyber attacks are more frequent now because it is effortless for hackers to execute them. Further, the payment methods are now friendlier to them. In addition, businesses are willing to pay a ransom because of the growing reliance on digital infrastructure, giving hackers more incentives to attempt more breaches.
A few years back, cybercriminals played psychological games before getting bank passwords and using their technical know-how to steal money from people’s accounts. They are bolder now because it is easy for them to buy ransomware software-as-a-service and learn hacking techniques from online video-sharing sites, like YouTube. Some cyber gangs are even offering their services for a business hacking set up for a fee, typically a share of the…