FBI's Internet Crime Complaint Center (IC3) issued an alert warning that U.S. individuals and businesses are still at risk of CryptoWall ransomware fraud. Scam perpetuators demand ransoms ranging from $200 to $10,000.
Between April 2014 and June 2015, IC3 reported receiving 992 complaints about CryptoWall resulting in $18 million in losses. Many victims also spend additional money on such things as legal fees, tech help and credit-monitoring services following the intrusion.
"CryptoWall 3.0 is the most advanced crypto-ransom malware at the moment. The $18 million in losses is highly likely much more, the downtime causes by these infections is a multiple of that." Stu Sjouwerman, founder/CEO of the Clearwater, Fla.-based security awareness training provider Knowbe4, warned.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
