What is Network Extortion?
Network Extortion may refer to the use of computer networks to extort money or other material goods from individuals or organizations. It is a form of cybercrime wherein a hacker or malicious actor accesses a target computer system and either threatens to cause harm or actually causes harm to the target in order to obtain money or other assets. Network extortion can take the form of ransomware, malware, viruses, denial-of-service attacks, or other malicious activities.
Network Extortion in More Detail
In the most common type of network extortion, a hacker infiltrates a target computer system and demands a ransom payment in order to restore the system to its original state. The hacker may threaten to delete all the data or to sell the data to a third party if the ransom is not paid. This type of extortion often targets businesses and can cause serious financial losses.
In addition to the financial losses, network extortion can also cause serious reputational damage for businesses, as the public may become aware of the attack. This can lead to customers losing trust in the organization and consequently choosing not to do business with them.
Network extortion is a serious form of cybercrime that can have far-reaching consequences for organizations. It is important for organizations to take steps to protect themselves from these types of attacks, such as investing in strong security measures and regularly updating their systems. It is also wise to have a plan in place to respond to a network extortion attack if it does occur.
Subscribe to The Shield
A bite-sized newsletter outlining industry insights & best practices for high-growth companies.