McAfee CEO: Ransomware is ‘Today’s Modern-Day Extortion’ (CNBC)


Ransomware is the 21st century’s answer to extortion and the number of cyberattacks involving the malicious software is surging, according to the chief executive of McAfee. “It is today’s modern-day extortion, and it’s something that criminals are going to continue to drive because they can make money, and that’s something that we’re very concerned about,” Christopher D. Young told CNBC on Tuesday.

Malware called “WannaCry” targeted a number of businesses, government entities and the U.K.’s National Health Service (NHS) in May 2017. WannaCry is a form of ransomware. It blocks access to a user’s computer until a sum of money is paid to the attacker.