Bitdefender Joins No More Ransom Initiative Supported by Europol

BD Software, the Country Partner for Bitdefender in India, announced that Bitdefender, the innovative security software solutions provider, joined the No More Ransom initiative supported by Europol contributing to the global fight against ransomware – the fastest-growing cyber threat to date.

Free decryption tools provided by Bitdefender are now available, offering ransomware victims the possibility to decrypt their files without having to pay criminals to do so. The decryption tools developed by Bitdefender have been added to www.nomoreransom.org –an online portal available in English, Dutch, French, Italian, Portuguese and Russian.

“With estimates of ransomware induced financial losses nearing the billion dollar mark by the end of 2016, traditional security mechanism and technologies have fallen short of a complete defense against this type of threat,” says Bitdefender’s Chief Security Strategist, CatalinCosoi.

According to a Bitdefender study carried out in the United States last year, ransomware comes second among the top concerns of CIOs of medium and large companies – 13.7% of the interviewed companies perceive ransomware as a hard-to-tackle threat. Simultaneously, half of individual victims are willing to pay up to $500 to recover encrypted data.

The file-encrypting malware has not only become a growing threat for PCs, but also for devices running Android.Cybercriminals have been deploying as many ransomware samples as

possible, using diverse attack vectors, to make sure they infect a large pool of victims. While drive-by downloads may have infected some, infected attachments and fake installers seem to have also been deployed for ransomware infection.