Extortion

1. Extortion occurs when the various information assets within the organization can be held custody by cyber criminals and they will only forfeit authorisation back to the organization only when their demands have been met. Related Term: The Human Element Click to know more about expert level training (Source: Business Continuity Management Institute - BCM Institute)

 

A Manager’s Guide to Business Continuity Management for Cybersecurity Incident Response

2. Extortion is where data can be held hostage in a complex manner by replacing the encryption key existing in a database, and holding the new key hostage. Or, it can be held brute-force style via DDoS, or as simple as snatching the latest backup and deleting the original version from the owner’s servers.
Source: (Kostadinov, 2014)

3. Extortion is an online crime in which a hacker threatens to damage your business unless you pay a ransom. Cyber extortionists may threaten to harm you, your reputation, or your property if you do not comply with their demands.
Source: (Insureon, 2017)