Ransomware is malicious software (malware) that blocks access to someone’s com- puter system or files on the system and subsequently demands a ransom to be paid for unlocking the computer or files.... Show moreRansomware is malicious software (malware) that blocks access to someone’s com- puter system or files on the system and subsequently demands a ransom to be paid for unlocking the computer or files. Ransomware is considered one of the main threats in cybercrime today. Cryptoware is a specific type of ransomware, which encrypts files on computer systems. The ransom is often demanded in bitcoins. Based on desk research, a series of interviews, and the investigation of several police files, this paper investi- gates the modi operandi in which cybercriminals use ransomware and cryptoware to make profits and how they launder these profits. Two models, based on the payment of the ransom via vouchers and via bitcoins respectively, are identified and described. These methods allow criminals to launder profits in relative anonymity and prevent the seizure of the illegally obtained money. Show less
