Malware, or malicious software, refers to programs intentionally designed to damage, disrupt, or gain unauthorised access to devices, networks, or data. The frequency of malware attacks is on the rise, with cybercriminals continuously evolving their tactics. This article aims to delve into what malware is, the various types of malware, how it spreads, its impact, and measures to protect against it, including the role of cybersecurity and cyber insurance.
Thank you for showing your interest in cyber-insurance. Our relationship manager will call you to discuss the details and share the best quotes from various insurers. In case you have any query or comments, please contact us at corporateinsurance@policybazaar.com
Malware refers to any software intentionally designed to harm, exploit, or disable devices, networks, or data. It includes a variety of malicious programs, each with a unique purpose and method of operation. The common targets of malware attacks include:
Computers and Servers: Malware can infiltrate operating systems, steal data, or corrupt files.
Smartphones and IoT Devices: With the growing use of connected devices, malware increasingly targets mobile platforms and smart gadgets.
Networks: Corporate networks are often targeted for data theft, ransomware attacks, or to gain unauthorised access to sensitive systems.
The primary purposes of malware include disrupting normal operations, stealing sensitive data, monitoring user activities, extorting money, or causing widespread damage. For instance, ransomware attacks are often financially motivated, while spyware may be used for corporate spying.
Types of Malware
Malware is categorised into several types, each with distinct characteristics and attack methods. Some of the most prevalent forms include:
Viruses: Viruses are programs that attach themselves to legitimate files and spread through executable code. They infect systems when the host file is executed, leading to potential data corruption, system crashes, or even hardware damage.
Worms: Worms exploit security vulnerabilities to self-replicate and spread across networks without requiring human intervention. Unlike viruses, they do not need to attach to files, making them particularly dangerous in environments with weak security protocols.
Trojan Horses: Trojan virus disguise themselves as legitimate software, tricking users into downloading them. Once inside the system, they can create backdoors for hackers to control the infected device, steal data, or launch other attacks.
Ransomware: Ransomware encrypts data or locks systems, demanding a ransom for restoration. Recent ransomware trends show a shift towards 'double extortion,' where attackers first exfiltrate data and then threaten to leak it unless payment is made.
Spyware: Spyware secretly monitors and records user activities, often capturing sensitive information like keystrokes, passwords, or credit card details. It can be used for identity theft, corporate espionage, or targeted advertising.
Adware: Adware generates intrusive advertisements, which can slow down system performance and collect user data without consent. While not inherently malicious, it poses privacy risks and may lead to further malware infections if users click on malicious ads.
Rootkits: Rootkits grant unauthorised access to a system while concealing their presence. They often modify operating system files to avoid detection by antivirus software. Rootkits are typically used to maintain long-term access to compromised systems.
Keyloggers Keyloggers secretly record keystrokes, capturing sensitive data such as passwords, credit card details, and private messages. They are commonly used for identity theft and espionage.
Fileless Malware Unlike traditional malware, fileless malware operates in system memory without leaving files on the disk. This makes it harder to detect and remove using conventional antivirus tools.
Botnets A botnet is a network of compromised devices controlled by attackers to perform large-scale cyberattacks, such as Distributed Denial-of-Service (DDoS) attacks, spam campaigns, or credential stuffing.
Logic Bombs Logic bombs are malicious code hidden within legitimate programs that activate when specific conditions are met. They can delete files, corrupt data, or disable security systems.
Scareware Scareware tricks users into believing their system is infected, prompting them to download fake security software or pay for unnecessary services. It relies on fear tactics to manipulate victims.
Mobile Malware Mobile malware targets smartphones and tablets, often disguised as legitimate apps. It can steal personal data, track user activity, or send unauthorized messages to premium-rate numbers.
Cryptojacking Cryptojacking malware secretly hijacks a system’s processing power to mine cryptocurrency. It slows down devices, increases energy consumption, and can damage hardware over time.
How Malware Spreads?
Understanding the various propagation methods helps in implementing robust cybersecurity defences:
Downloading files or software from untrusted sources: Many malware programs disguise themselves as cracked software or popular applications.
Phishing emails or malicious links: Cybercriminals craft realistic emails with infected attachments or links to compromised websites.
Drive-by downloads from compromised websites: Malware can be silently downloaded when a user visits an infected website.
Infected USB drives or external devices: Physical media can carry malware into secure networks, especially in companies with inadequate endpoint security protocols.
Peer-to-peer sharing networks: Files shared across P2P networks may contain hidden malware, spreading infections rapidly among users.
Man-in-the-Middle Attack: Hackers intercept online communications or alter data in transit, injecting malware into legitimate downloads or transactions.
Why is Malware Used?
The motives behind deploying malware vary, but the most common reasons include:
Financial Gain: Ransomware, banking trojans, and adware are primarily used for monetary extortion.
Espionage: Malware like spyware and keyloggers can be employed for surveillance, often targeting government agencies or corporate entities.
Ideological Reasons: Hacktivists use malware to promote their political or social causes, causing disruption to institutions they oppose.
Sabotage: Malware such as 'Stuxnet' is used for targeted attacks against industrial systems, potentially leading to equipment damage or production halts.
The Impact of Malware
The repercussions of malware extend far beyond individual systems, affecting various sectors in profound ways:
On Individuals: Malware incidents pose a serious risk to personal privacy and financial security. In 2024, breaches involving compromised credentials accounted for 16% of incidents, exposing sensitive personal information such as social security numbers and bank details. This leads to identity theft, financial losses, and emotional stress, as victims have to deal with the aftermath of unauthorised transactions and damaged credit scores.
On Businesses: The average cost of a data breach has increased to $4.88 million, a 10% rise from 2023, reflecting the growing expenses related to remediation, lost business, and regulatory fines. Hybrid cloud environments, which involve data distributed across multiple platforms, face even higher breach costs averaging $5.17 million due to the challenges in securing interconnected systems. Beyond direct financial losses, businesses experience long-term impacts, including damaged reputation and customer churn.
On Governments: Government-related malware incidents surged, with an increasing focus on targeting infrastructure and national security, leading to more frequent and expensive breaches. These attacks pose risks to public safety, as malware can disrupt essential services like healthcare and transportation.
Why is Malware Deployed?
Malware is deployed for various malicious purposes, often to exploit victims for financial gain, data theft, or system disruption. Here are the key reasons why cybercriminals use malware:
Financial Gain: Attackers use ransomware to demand payments, banking trojans to steal financial credentials, and adware to generate revenue through fraudulent ads.
Data Theft: Malware can extract sensitive data, such as passwords, personal information, or corporate secrets, for identity theft or selling on the dark web.
System Disruption: Some malware, like worms or logic bombs, aim to crash systems, disrupt operations, or destroy data.
Espionage & Surveillance: Spyware and keyloggers allow attackers or even nation-states to monitor user activity and collect confidential information.
Spreading to Other Systems: Certain malware, like botnets, infect multiple devices to launch large-scale cyberattacks, such as a DDoS attack.
Gaining Unauthorized Access: Backdoors and rootkits help hackers maintain persistent access to compromised networks for future exploitation.
Warnings of Malware Infection
Malware often operates silently, but there are warning signs that indicate your system might be compromised:
Slow Performance: Your computer or phone suddenly becomes sluggish or unresponsive.
Frequent Crashes & Freezes: Unexpected system shutdowns or software failures.
Unusual Pop-ups & Ads: Excessive pop-ups, even when you're not browsing, can indicate adware.
Unknown Programs Installed: New software appears that you didn't install.
Disabled Security Software: Antivirus or firewall settings change without your permission.
Unwanted Browser Changes: Homepage, default search engine, or new toolbars appear without consent.
Unusual Network Activity: High data usage or slow internet may indicate background malware operations.
Ransom Messages: A warning demanding money to unlock your files (ransomware attack).
Unauthorized Transactions: Unfamiliar financial transactions or account logins.
Overheating & Battery Drain: Malware running in the background can cause excessive battery usage.
Files missing or modified: Important files disappear, or their contents change without your action.
Unusual device behaviour: Apps or programs open and close on their own.
High CPU or disk usage: Task Manager shows unexplained spikes in resource usage.
Emails or messages sent without your knowledge: Your contacts receive strange emails or social media messages from you.
Unknown user accounts created: New admin or guest accounts appear on your system.
Printer or peripheral malfunctions: Printers or connected devices act erratically or stop working.
System settings changed: Wallpaper, permissions, or startup programs are altered without your input.
Strange audio or video activity: Your webcam or microphone turns on unexpectedly.
Malware Detection Techniques
Several techniques are used to detect malware, each with its strengths and limitations. Here are the key methods:
Malware Detection Strategies
Explanation
Signature-Based Detection
Identifies malware by comparing files to a database of known malicious signatures. It is effective for recognized threats but struggles with new or modified malware.
Heuristic Analysis
Detects unknown malware by analyzing code structure and behaviour patterns similar to known threats. Helps identify new or slightly altered malware variants.
Behavior-Based Detection
Monitors real-time activity, such as unauthorized access, file modifications, or unusual processes, to flag suspicious behaviour even if the malware is new.
Sandboxing
Runs suspicious files in a secure, isolated environment to observe their behavior before allowing them to interact with the main system. This prevents potential damage from unknown threats.
AI & Machine Learning
Uses data-driven models to detect anomalies, predict new malware patterns, and improve detection over time by learning from previous cyber threats.
File Integrity Monitoring (FIM)
Tracks change in critical system files and alert users if unauthorized modifications occur, signalling potential malware activity.
Network Traffic Analysis
Examines data packets and communication patterns to detect unusual or malicious activity, such as hidden malware connections or data exfiltration.
Endpoint Detection & Response (EDR)
Provides continuous monitoring of devices (endpoints) to detect, investigate, and respond to potential malware threats in real time.
Memory Analysis
Scans a system's RAM (memory) to identify malware that operates without leaving traces on the hard drive, such as fileless malware.
Honeypots
Fake systems are set up to attract cybercriminals, helping security teams analyze attack methods and detect malware before it spreads.
Checksumming
Uses cryptographic hash functions to verify file integrity. If a file's checksum value changes unexpectedly, it may indicate malware tampering.
User and Entity Behavior Analytics (UEBA) using AI
Tracks user activity and device behaviour to identify unusual patterns, such as abnormal login locations or access attempts, which may signal malware or insider threats.
How to Protect Against Malware?
Effective protection requires a multi-layered cybersecurity approach. Here are some important steps to defend against cyber-attack attempts:
Use Antivirus and Anti-malware Software: Deploy reputable solutions for real-time threat detection and regular system scans.
Update Systems and Software Regularly: Applying patches helps close vulnerabilities that malware could exploit.
Avoid Suspicious Links or Attachments: Always verify the sender’s identity before clicking on links or opening attachments.
Backup Data Regularly: Frequent backups enable quick data recovery after a ransomware attack.
Educate Users on Cybersecurity Best Practices: Training employees on recognising phishing schemes and secure internet usage can significantly reduce malware risks.
Enable Firewalls Use network firewalls to filter and block malicious traffic before it reaches your system.
Use Multi-Factor Authentication (MFA): Adds an extra layer of security by requiring additional verification beyond passwords.
Restrict User Permissions: Limit administrative privileges to reduce the risk of malware spreading across a network.
Disable Auto-Run for External Devices: Prevents malware from executing automatically when plugging in USB drives or external media.
Implement Email Security Filters: Use spam filters and email authentication protocols (like SPF, DKIM, and DMARC) to prevent phishing emails.
Secure Remote Access: Use VPNs and strong authentication methods to protect remote work environments from malware threats.
Monitor Network Traffic: Detect unusual activity that may indicate malware infiltration or data exfiltration.
Use Application Whitelisting: Allow only approved applications to run, blocking unauthorized or suspicious programs.
What to Do if Infected by Malware?
If your system becomes infected with malware, follow these steps to mitigate the impact:
Identify and Remove Malware: Start by isolating the infected device from the network to prevent the malware from spreading. Run a thorough scan using reputable anti-malware software to confirm the type of infection and follow the tool’s instructions for removal. If the malware is sophisticated, consider reinstalling the operating system and wiping the device to ensure complete eradication.
Restore Backups: Restore data from backups created before the infection, ensuring that these backups are verified as clean. Avoid using compromised backups, as they can reintroduce the malware. Once the system is restored, update all software and apply the latest security patches to close vulnerabilities that the malware may have exploited.
Seek Professional Cybersecurity Help: For complex infections, seek professional cybersecurity assistance. Experts can conduct forensic analysis, ensure complete malware removal, and implement enhanced security measures to prevent future attacks. Professional help may also include advanced recovery techniques for encrypted or compromised data.
Role of Cyber Insurance in Malware Attacks
Even with stringent cybersecurity measures, no organisation is immune to the evolving sophistication of malware attacks. Cyber insurance steps in to mitigate the fallout when these incidents occur despite best efforts. It covers costs linked to data breaches, ransomware payments, and business interruptions, helping companies recover financially and minimise operational downtime.These policies often include resources like access to forensic experts and legal counsel who assist in assessing the breach, containing threats, and navigating regulatory requirements. This support extends to cybersecurity assessments, enabling organisations to identify vulnerabilities and strengthen defenses, thus managing the escalating financial and legal risks associated with malware attacks.
Conclusion
With the evolving threat landscape, businesses must adopt a holistic approach to cybersecurity that goes beyond just technical defenses. While tools like firewalls and anti-malware software are crucial, they alone may not fully protect against sophisticated attacks. Cyber insurance helps fill this gap by providing a safety net when preventive measures fall short, addressing not just financial losses but also offering resources to aid in recovery and legal compliance. For more information on finding the right coverage, visit Policybazaar for business and connect with an expert to explore your options.
Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.
Global Cyber Threats: India Emerges as a Key Target in 2024
According to a report by cyber intelligence firm CloudSEK, India ranked as one of the top nations globally affected by cyberattacks in 2024,with 95...Read more
Payment Gateway Company Reports Massive ₹16,180 Crore Cyber Theft
In a startling revelation, the Thane Police have exposed a massive cyber heist, with cybercriminals pilfering an astonishing ₹16,180 crore. This...Read more
Cybercriminals Target Former Union Minister Dayanidhi Maran's Savings...
In a concerning development, cybercriminals managed to siphon off ₹99,999,from the personal savings account of Dayanidhi Maran, the former Union...Read more
Mumbai Police Nab Four Cyber Fraudsters in Extensive 22-Day Operation
In a 22-day operation spanning four states, including Uttar Pradesh, Rajasthan, Delhi and Madhya Pradesha Mumbai Police task force comprising seven...Read more
India Grapples with Mounting Cybersecurity Risks, According to Palo...
India is confronting a significant threat of cyberattacks aimed at its critical infrastructure, public sector, and essential services, as per a report...Read more
Pune-Based Engineering Supplies Firm Loses Over 22 Lakh in Cyber Scam
Pune City police uncovered a suspected 'man-in-the-middle' cyber attack that cost a Pune-based engineering supplies firm more than 24,000 Euros...Read more
AIIMS Delhi Hit by Cyber Attack for Second Time in a Year
All India Institute of Medical Sciences (AIIMS) in New Delhi faced a new cyberattack on Monday The premier medical institution promptly responded...Read more
Mumbai Woman Falls Victim to Cyber Fraudsters While Helping an...
A Mumbai woman's act of kindness towards an injured bird took an unexpected turn when she became a target of cyber fraudDhwani Mehta works at Famous Studios...Read more
Scammers Exploit 'Man-in-the-Middle' Technique, Pune Construction...
Prominent Construction Technology Company falls victim to cyber attack, losing Rs 13.8 Lakh in Pune, India.The investigators described it as a...Read more
Reddit Hacked in a Targeted Phishing Attack
Finance minister Nirmala Sitharaman presented the Union Budget FY 2023 on February 1, 2023. Christopher Slowe, CTO of Reddit, revealed the company was able...Read more
FM Nirmala Sitharaman announces Set up of 3 Artificial Intelligence...
Finance minister Nirmala Sitharaman presented the Union Budget FY 2023 on February 1, 2023. The Finance Minister announced the establishment of 3...Read more
Cyber Fraudster Target Customer under Disguise of Insurance Officer
Cyber fraudsters are targeting customers under the disguise of not a bank official but an insurance company official In one such event, a 67 year old...Read more
Sensitive Data of 6 Lakh Indians Stolen by Hackers and Sold at Rs...
Out of 5 million people globally, 6 lakhs Indians have had their sensitive data stolen and sold on the bot market making India, the worst affected...Read more
AIIMS Cyber Breach: Attackers Demand Rs 200 Crore in Crypto
All India Institute of Medical Sciences, New Delhi, India reported a cyberattack on November 23, 2022. Later, the statement released by AIIMS said that...Read more
Cyber Criminals Sending Phishing Links to Twitter Users
Cyber criminals are targeting twitter Verified Twitter user by sending them phishing links. The cyber criminals send the phishing link to steal their...Read more
Advanced Persistent Threat is a hidden, long-lasting, and...Read more
10 Mar 2025 by Policybazaar1364 Views
Disclaimers+
+Disclaimer: The starting premium is ₹2 per day for a ₹5 lakh Sum Insured under an individual plan. The actual premium may vary based on the chosen plan type and selected add-ons. Standard terms and conditions apply. Please refer to the sales brochure for detailed information on risk factors, terms, and conditions before making a purchase. ++Disclaimer: The premium of Rs 112100/year is the starting price for sum insured of Rs 1 Crore that may vary depending on the business activity and services rendered, company turnover, and its geographical split, industries/customers to whom the product/service is being provided, website and domain network features, business continuity plan, and data protection measures. STANDARD TERMS AND CONDITIONS APPLY. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale.
By clicking on "View Plans" you agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover. The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.
Your call has been scheduled successfully.
Expert advice made easy
Date
Time
When do you want a call back?
Today
Tomorrow
10 Feb
11 Feb
12 Feb
13 Feb
14 Feb
What will be the suitable time?
11:00am - 12:00pm
12:00pm - 01:00pm
01:00pm - 02:00pm
02:00pm - 03:00pm
03:00pm - 04:00pm
04:00pm - 05:00pm
05:00pm - 06:00pm
Tell us the number you want us to call on
Your privacy matters. We wont spam you
Call scheduled successfully!
Our experts will reach out to you on Today between
2:00 PM - 3:00 PM
We don't spam
Expert advice made easy
