How does cyber extortion work?
Cyber extortionists have two general methods for getting what they want (which is, in most cases, money).
Coercion and social engineering
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The subtler of the two tactics involves tricking people into giving away sensitive information or handing over money directly. Hackers can pretend to be someone else — a friend, a romantic partner, or even a business like a bank or online retailer — and try to convince a victim to do what they want. Common examples of this technique include phishing emails and romance scams
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Threats and ransom demands. If a cyber extortionist favors a more direct route, they can cause, or threaten to cause, intense distress and disruption for the person being targeted. They then give the victim an ultimatum: pay up, or suff er the consequences. The hackers could threaten to leak a victim’s personal photos or private information if they don’t pay a certain amount of money. Alternatively, they could use ransomware to make a company’s fi les inaccessible and return them only if a fee is paid.