What is the definition of ransomware?

Prepare for the ACFE Certified Fraud Examiner (CFE) Financial Transactions and Fraud Schemes Test with our comprehensive quiz. Engage with flashcards, multiple choice questions, hints, and explanations. Ace your exam!

Ransomware is specifically defined as a form of malware that encrypts or locks data on a device or network, thereby preventing access until a ransom is paid. This type of attack often targets individuals and organizations, exploiting vulnerabilities to take control of their information. Attackers typically present a ransom note, outlining the payment required to regain access to the data. This makes it distinct from other types of malware since its primary objective revolves around extortion linked to the inability to access personal or sensitive data.

In contrast, the other choices depict different forms or characteristics of malicious software. The first option refers to spyware, which is designed to collect user data covertly without their consent. The second option encompasses various types of malware aligned with cybercrime but does not specifically define ransomware's unique characteristics related to data locking and ransom demands. The third option describes potentially unwanted programs (PUPs) that might appear legitimate but can cause harm, which again does not capture the essence of ransomware. Therefore, the most accurate definition aligns with the characteristic that defines the operation and intent of ransomware attacks.

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