A Review of Ransomware Attacks and its Impact on the Bank Sector

Author(s)	Merikh Ahadi, Eronimus A
Country	India
Abstract	Ransomware is an online attack perpetrated by cybercriminals who demand ransom to release hold on encrypted or stolen data. In the past few years, ransomware attacks have evolved into complex malware with advanced encryption capabilities that primarily target public and private sector organizations such as banks. This paper covers ransomware basics, including how this malware works and its known attack vectors, the type of damage caused by ransomware attacks on banks, and an explanation of banks’ strategies to prevent, detect and eradicate ransomware infections.
Keywords	Ransomware, cyber threats, financial sector
Field	Computer > Network / Security
Published In	Volume 6, Issue 3, May-June 2024
Published On	2024-05-29
Cite This	A Review of Ransomware Attacks and its Impact on the Bank Sector - Merikh Ahadi, Eronimus A - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.21458
DOI	https://doi.org/10.36948/ijfmr.2024.v06i03.21458
Short DOI	https://doi.org/gtw6rp

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International Journal For Multidisciplinary Research