Summary:
1. Paying ransomware ransoms may not solve the issue as hackers may request more money and it can take weeks or months to restore encrypted information.
2. Around 71 percent of companies worldwide were affected by ransomware in 2022, and 72 percent of the respondents paid the ransom to recover their compromised data.
3. The FBI does not recommend paying a ransomware demand as it doesn’t guarantee system recovery and encourages further targeting of companies.
4. Paying ransoms emboldens malicious actors, allowing them to expand their operations and continue to target organizations.
5. Paying ransomware incentivizes further attacks, as it proves that the attack was successful in obtaining money.
6. There is no guarantee that paying a ransom will restore files or prevent the publication or sale of stolen data.
7. Making ransomware payments illegal could embolden cybercriminals and increase their profitability.
8. Experts have differing opinions on whether businesses should pay ransom.
Questions:
1. Should companies pay ransomware ransoms?
Answer: Paying ransomware ransoms may not solve the issue and can lead to further demands for more money. Additionally, restoring encrypted information can take weeks or months.
2. What was the percentage of companies worldwide affected by ransomware in 2022?
Answer: Around 71 percent of companies worldwide were affected by ransomware in 2022.
3. Did most companies pay the ransom to recover their compromised data?
Answer: Yes, approximately 72 percent of the respondents paid the ransom to recover their compromised data.
4. Why does the FBI not recommend paying a ransomware demand?
Answer: The FBI believes that paying a ransom does not guarantee system recovery and encourages further targeting of companies. It also establishes a reputation for being an easy target.
5. How does paying ransom embolden malicious actors?
Answer: Paying ransoms demonstrates to malicious actors that extortion works, making them more confident in expanding their operations and continuing to target organizations.
6. What are the risks of paying ransomware?
Answer: There is no guarantee that paying the ransom will restore files or prevent the publication or sale of stolen data. Additionally, it may make the organization a target for future attacks.
7. Would making ransomware payments illegal discourage cybercriminals?
Answer: Making ransomware payments illegal could actually embolden cybercriminals and increase their profitability as victims are increasingly refusing to pay ransom demands.
8. Do experts agree on whether businesses should pay ransom?
Answer: Experts have differing opinions on whether businesses should pay ransom, with some advocating against it, and others considering the circumstances on a case-by-case basis.
Should companies pay ransomware ransoms
Paying the first ransom may not solve the issue. If a business decides to comply with the ransom request, the hacker will likely request more money. Even if the hacker provides the encryption keys immediately, it could take the organization weeks or months to restore its encrypted information.
Cached
Are companies paying ransomware
Share of global businesses victimized by ransomware paying to recover their data 2022. In 2022, 71 percent of companies worldwide were affected by ransomware. According to a survey of global IT professionals, around 72 percent of the respondents paid the ransom and recovered the compromised data.
Cached
Why you shouldn t pay ransomware
Law Enforcement Request. “The FBI does not recommend paying a ransomware demand. This is because it doesn't guarantee you will get your systems back online or your data back and it incentivizes threat actors to continue to target companies. And your organization may even become known as an easy mark,” Roberts concluded …
Why paying ransom is a bad idea
In general, the FBI advises that organizations refrain from paying ransoms because it simply emboldens malicious actors by telling them that extortion works. Those attackers can then justify expanding their operations and continuing to target organizations, making everyone less safe.
Why paying ransomware is bad
Paying the ransom incentivises these ransomware attacks. By paying the ransom you are proving that the attack is successful in its end goal: getting money. This money will be funnelled back into the scam to hit as many businesses as possible.
Why not to pay cyber ransom
Remember, never pay a ransom.
There is no guarantee your files will be restored, nor does it prevent the publication of any stolen data or its sale for use in other crimes. You may also be targeted by another attack.
Should ransomware payments be illegal
However, making ransomware payments illegal could embolden cybercriminals and make them more profitable. Cybercriminals earned significantly less from ransomware attacks in 2022 compared to 2021 as victims are increasingly refusing to pay ransom demands, according to data from Chainalysis.
Why experts disagree on whether businesses should pay ransomware demands
Law Enforcement Request
“The FBI does not recommend paying a ransomware demand. This is because it doesn't guarantee you will get your systems back online or your data back and it incentivizes threat actors to continue to target companies.
Should you never pay ransomware
The FBI does not support paying a ransom in response to a ransomware attack. Paying a ransom doesn't guarantee you or your organization will get any data back. It also encourages perpetrators to target more victims and offers an incentive for others to get involved in this type of illegal activity.
Is it ethical to pay cyber ransom
There are two dimensions to be considered when deciding to pay a ransom: the business decision and the ethical one. Law enforcement authorities, including the FBI and the RCMP, adamantly advise against paying ransom, ever. They do so for two good reasons: first, it rewards and encourages criminal activity.
Why you should never pay ransomware
The realities of ransomware
Law enforcement agencies recommend not paying, because doing so encourages continued criminal activity. In some cases, paying the ransom could even be illegal, because it provides funding for criminal activity.
Why is paying ransom unethical
The Ethical Considerations of Paying a Ransom
First and foremost, paying a ransom does not guarantee that the attacker will release the decryption key or unlock the system. Furthermore, by paying the ransom, victims indirectly fund criminal activities and potentially enable further attacks against other organizations.
