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FOS Blog

03 Apr

Tech Minute – Ransomware is on the Rise

Tech Minute – Ransomware is on the Rise

What is it?
Ransomware is a type of malicious software (malware) that infects a computer and locks it down so that the owner or user can not access any of the information on the system without paying some sort of monetary payment or ransom. The data stored on the infected system is usually encrypted and inaccessible until the extorted payment is collected and key is provided to unlock the data. This type of malware can be spread via phishing attacks or other mechanisms used to spread viruses.

Why should I care?
Once infected, an organization cannot access any of their data. So if a key system (i.e. core banking software) or a shared directory (where loan files were stored) were to become locked down, a bank would effectively be put out of business until they either pay the ransom or restore the infected data from backup.

What should I do?
Train your staff and make them aware of these types of attacks.  Make sure you engage in periodic social engineering and penetration tests.

Where do I go to learn more?
Destructive Malware Guidance (FFIEC) –

For additional information contact Jeffrey Johns at