Ransomware is a type of computer virus that infiltrates a computer when the user downloads an attachment. The virus then encrypts all files on the computer until the victim pays a ransom… that increases with time. There is no other way to decrypt the computer files unless the ransom is paid.

One of the latest strain of Ransomware is CryptoWall. CryptoWall makes the ransom payment even more difficult by only accepting Bitcoins. With their skillful use of e-commerce, it is evident that hackers like CryptoWall are in fact “a well-oiled capitalist machine” as described by Mr. Wisniewski.

See “How My Mom Got Hacked”, The New York Times, Jan 2, 2015

Posted by Elizabeth Cheung, Associate Editor, Wealth Strategies Journal.