Canada and six other countries on Wednesday identified the digital extortion gang operating under the 'Lockbit' banner as the world's top ransomware threat.
The new Communications Security Establishment Canada complex is pictured in Ottawa on October 15, 2013. THE CANADIAN PRESS/Sean Kilpatrick
In a joint advisory, U.S., Canadian, British, French, German, Australian and New Zealand cyber authorities said Lockbit's extortion software, used to scramble victims' data until a ransom is paid, was the most broadly used by cybercriminals. Ransomware has been an online threat for years and the business around it has become increasingly sophisticated. Lockbit is one of several groups that uses an affiliate model, effectively letting other cybercriminals use its code and infrastructure in return for a cut of the profits.
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