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Ransomware payments are now a critical business decision (www.helpnetsecurity.com)

submitted 1 month ago by [email protected] to c/[email protected]

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Despite the efforts of law enforcement agencies to stop and bring to justice those responsible for ransomware attacks, the situation is not improving. While authorities do not recommend making a ransomware payment, some companies are forced to make that choice in order to continue their operations. In this article, we present some important statistics about the ransom demands that companies are facing. 83% of organizations experienced at least one ransomware attack in the last year … More → The post Ransomware payments are now a critical business decision appeared first on Help Net Security.

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[–] Clent 2 points 1 month ago (1 children)

Capitalism is fun. The insurance industry forming around this works in the hacker's favors.

[–] [email protected] 2 points 1 month ago (1 children)

I'd argue the insurance has the opposite effect. To qualify for the insurance in the first place means requiring having protections in place.

I do know of the 50+ companies I've helped recover operations from those with insurance were usually much better off in the extent of the damage. One downside of the insurance is you have to keep operations offline until they give you the go ahead to reuse the existing infrastrucure for recovery.

So rather then hackers benefiting, the rich owning insurance companies are those benefitting along with the companies themselves from being forced to do security.

[–] SpaceMan9000 1 points 1 month ago

You'd think so, but the truth is that a lot of these insurance contracts where created before ransomware hit the mainstream.

New contracts would benefit from this, however most people who like to pay for this type of insurance usually already have it.

A lot of the checkboxes are also "Do you have MFA", to which most companies respond yes due to office 365 or some users on the VPN having it.