The result is that attackers not only encrypt data but also threaten to release sensitive information or pressure third parties, forcing organizations to weigh the risks of disappointment and operational disruption.
“Confidence in negotiations is disappearing,” Rivas-Vásquez told CSO. “Enforcement actions against large ransomware-as-a-service operations have revealed that many attackers have failed to remove stolen data even after ransoms have been paid.”
Many countries encourage international cooperation and intelligence sharing and use of third-party processing of cryptocurrency payments agents.
“With governments reducing payments, increasing mistrust of attackers’ promises, and increasing maturity in corporate responses, paying ransom has become an ineffective and dangerous option for many organizations,” Rivas-Vásquez concluded.
Put bluntly: Paying ransoms may encourage more attacks and does not guarantee data recovery.
Websites like No-More-Ransom offer a lifeline to businesses affected by ransomware, but prevention programs and strict procedures are always preferred to deal with the increased risk of potential breaches.
“Incident response and preparedness can play a critical role in recovering from an incident like a ransomware attack,” Pentest People’s Nicholson said. “By defining and testing answers, organizations can better understand what their pain points are and fill any security gaps to reduce risk.”
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