WASHINGTON — Hackers are stepping up efforts to turn their exploits into cold cash, locking a user’s data unless a ransom is paid, a report found on Tuesday.In the fourth quarter of 2015, so-called ransomware increased 26% quarter-over-quarter, according to Intel Security.One single ransomware campaign last year netted $325m, according to researchers.The report did not estimate the overall value of ransomware, but the report found some six million attempts to install such malware, which encrypts the contents of a computer and locks the data down unless the user pays a ransom to obtain a decryption key.Steve Grobman, chief technical officer at Intel Security, said the practice is growing due to several factors — easy access to the software, criminal networks which offer the service, and the difficulty of tracking down culprits who can hide in anonymous networks."In many ways this is a more lucrative business model than traditional forms of cybercrime," Mr Grobman said."And now we are...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.