Phishy Business – The Next Evolution of Ransomware

In this episode of Phishy Business, we discuss the very definition of ransomware and how it can be an overused and underdefined concept. We also take a closer look at the world of threat research. Our special guest is former professional hacker Charl van der Walt, Head of Security Research at Orange CyberDefense, who now spends his time asking and answering the important questions around cybersecurity, specifically those that pertain to ransomware. Charl believes we need to move beyond the term ransomware and look more at the concept of cyber extortion because the days of one-off ransomware attacks have given way to a massive, highly profitable, well-organized cyber-crime industry. Charl is working to ensure cybersecurity professionals look at ransomware more in terms as being part of a series of crimes in which security is breached and then something of value is taken and held for ransom. This is because ransom attacks are moving beyond just denial of access to data and are more frequently including confidential data exposure and denial of service in some form. In ‘Cyber Extortion – The Next Evolution of Ransomware’, we discuss: • Redefining the term “ransomware” as “cyber extortion”. • Why cyber extortion is now a much more appropriate term for security professionals to use. • The main categories of threats in cybersecurity. • The trends in ransomware over the past few years that have led to its transformation. • How to effectively communicate about ransomware to a non-technical audience. • The work communities can do to prevent ransomware attacks, known as ecosystem-based security.