The FBIs Internet Crime Complaint Center (IC3) has issued a public service announcement warning of continued criminal fraud using CryptoWall ransomware. The alert (I-062315-PSA) notes that CryptoWall and variants of it continue to be used actively in the U.S. and have been since April 2014.
CryptoWall is a financial fraud scheme and targets both individuals and businesses. The financial impact is estimated between $200 and $10,000 per victim. That does not necessarily include the costs incurred to mitigate or to implement countermeasures, nor does it account for lost productivity, any legal fees, or costs to purchase credit monitoring services for customers or employees who are the victims.
Ransomware such as this are typically executed when a victim clicks on a link, attachment, or advertisement that contains malware. It can also spread when a user visits an infected website. If an infection occurs, files are encrypted and a ransom threat is issued to the victim to pay the criminals an amount of money (often in Bitcoin) to decrypt them.
It’s easy to avoid becoming a victim of ransomware by following a few good practices:
- Install and keep anti-malware software updated at all times.
- Enable popup blockers in all browsers you use and consider using an ad blocking software as well. Criminals often use these to spread the malicious software.
- Back up important content to another location that is external to your computer. This can be to an external hard drive or a USB stick, depending on the size of your data.
- Be aware of phishing email messages and don’t click links or attachments sent in email from anyone unfamiliar to you. Even if the sender is known, it is best to confirm with them via phone or separate means apart from replying to the message, to verify the legitimacy of the link or attachment before taking any action.
- Before entering any personal or financial information into a website, be 100% sure that it is the correct site.
The IC3 has received 992 complaints regarding CryptoWall between April 2014 and June 2015. Victims reported losses during that time totalling over $18 million. If you have been a victim of CryptoWall or any other type of ransomware, contact your local law enforcement and file a report with the FBIs field office in your area or online at IC3. When filing reports, put in as much detail as possible.
For banks and credit unions
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