"If you got the money honey, then I'll waste your time."
This threat is what I call the classic robber when deep down it's just a little man typing on his keyboard demanding a figure of money or he will release your nude photos.
So you are working for a large corporate company and you are about to be promoted and all of a sudden you get an email stating that they have accessed your webcam and recorded you watching something exciting and will threaten to publish it for all of the world to see unless you pay them a lump sum of money using....bitcoin? Wait that sounds dodgy. And it is so let me explain.
Ransomware is a threat and literally a threat in which someone requests you to pay money (mostly in Bitcoin) for fake services, fraudulent requests or preventing to expose your data.
You will typically receive a ransomware through an email or via a pop up on your computer saying you have a virus and you need to pay to have it removed.
The most common one I have seen is where they claim they have accessed your webcam footage and they linked your webcam video to a porn site and made it look like you were getting a bit busy and they say they will delete the footage if you pay them in Bitcoin. First of all there is a 99% chance they don't have your footage and they are just telling porky pies and secondly the "bitcoin" part is soo 2015. Most people keep their webcams covered to be certain that they don't have a recording of you and this is a good practice to have .
How do I avoid this?
On the email side of it, it is impossible to avoid as this is classified partly as spam and not all spam emails get detected by anti-spam measures. But on the computer side of things, you can prevent viruses by installing an anti-virus security software such as Bitdefender and Malwarebytes on your system to keep you protected.
I just sent them money! What do I do?
Call your Bank and tell them that you made a payment to a fraudulent account and ask them if you can get your money transferred back. If that fails then there isn't much else you can do except for contacting the police and see if it can be investigated. Unfortunately it is highly likely that whatever amount of money you have sent them will be lost for good.