The ABC news recently interviewed the CEO of the Cyber Security Research Center on whether companies should consider paying ransom to hackers. Her view is that we should not as it normalised the criminal behaviour. She said that once you receive the ransomware note, you are in reputation salvage mode as your data is already compromise. And that at that point, paying criminals is more of an insurance policy for them not to publish the data. The Australian government is looking to impose a ban on ransomware payments to cybercriminals to remove that option, completely off the table, for company boards. That will send a message to cybercriminals and allow companies to focus on their customers and mopping up what they can. She does concede that there can be situations for paying a ransom, such as when there are threats to life, such as hospital systems.
https://www.abc.net.au/news/2023-05-04/some-company-bosses-considering-paying-hackers/102302856
This segment was created for the It’s 5:05 podcast