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Don’t Pay the Ransom – Easier Said than Done

Don’t Pay the Ransom – Easier Said than Done

Created: Thursday, August 20, 2020 - 13:40
Categories:
Cyber Security, Resilience, Security Preparedness

When ransomware strikes a company, it is easy for pundits to say, “don’t pay the ransom.” But in reality, that is not always a practical choice. If you have not been impacted by ransomware yet, you are fortunate. Furthermore, if you think you know what you will do when you are (and even if you don’t know), you might want to read this recent post by Mailguard. The article includes a quick timeline of events regarding the WastedLocker ransomware attack on Garmin last month and thoughts on navigating the critical quandary to pay or not to pay. There are countless headlines of organizations paying ransoms for decryption keys and for keeping data from being publicly leaked. Likewise, organizations facing service disruptions and/or loss of money are faced with a very real dilemma and right, wrong, or indifferent, the option not to pay may not always be the best decision for the business. Sadly, there seem to be far fewer victims who are adequately protected and do not have to consider paying for anything. Ransomware is a reality and every organization needs to have a ransomware response plan at the ready. However, probably the most important thing to remember is don’t do it alone. When ransomware strikes, contact a credible ransomware response firm. Proceeding alone and/or without law enforcement involvement could lead to bigger problems, including violating anti-money laundering laws and financial penalties from the government. Ultimately it is best to pay (invest) to secure now, than it is to pay (extortion demands and then some) more to recover later. Read more at Mailguard