Switch Networking

Cybercriminals will look to grow their malicious activities using malicious code in ever more devious ways.

Such a ransomware variant has already been discovered using an innovative system to increase infections: the software turns victims into attackers by offering a pyramid scheme-style discount.

If the victim passes on a link to the malware and two or more people install this file and pay, the original victim has their files decrypted for free.

This type of insurance will increasingly become part of operational risk strategy however, the insurance industry needs to tailor products specific to client needs and not just provide blanket cover as extensions to existing risks.

It could be said that the CTO role is far too general a position to cover the vast and important issue of cyber security, and hence an officer that specifically deals with this area may be a step forward.

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