Ransomware: Evolution, Mitigation and Prevention

Ransomware is a rapidly growing threat to the data files of individuals and businesses. It encrypts files on an infected computer and holds the key to decrypt the files until the victim pays a ransom. This malware is responsible for hundreds of millions of dollars of losses annually. Due to the large amounts of money to be made, new versions appear frequently. This allows bypassing antivirus software and other intrusion detection methods. In this paper, we present a brief history of ransomware, the arguments for and against paying the ransom, best practices to prevent an infection, and to recover from an infection should one happen.