Ransomware: paying the price twice!
Summary
In a recent poll conducted by Naoris Protocol, a decentralised cybersecurity platform, it would appear that businesses are indeed doubling down on ransomware attackers by refusing to pay the price of clawing back stolen/encrypted data. David Carvalho, CEO and co-founder of Naoris Protocol says ”It’s much easier to take the moral high ground when the question is theoretical. The Department of Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) states most cases of paying a ransom are illegal. The voluntary stance has not delivered the desired results, so Biden’s strategy recommends far broader mandates on private industry, as the vast majority of US digital infrastructure is controlled by this cohort. Carvalho says “Ultimately the best cure is prevention, and this starts with the education of employees and individuals on the role they can play in thwarting the attacks of cybercriminals.