Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Banning ransomware payments: An attractive but dangerous idea

Published 08/16/2023, 09:30 AM
Updated 08/16/2023, 09:40 AM
Banning ransomware payments: An attractive but dangerous idea

A successful cyberattack on critical infrastructure such as electricity grids, transportation networks or healthcare systems could cause severe disruption and put lives at risk.

Our understanding of the threat is far from complete since organizations have historically not been required to report data breaches, but attacks are on the rise according to the Privacy Rights Clearinghouse. A recent rule from the United States Securities and Exchange Commission should help clarify matters further by now requiring that organizations disclose material cybersecurity incidents they experience.

Ransomware revenue is up. (Chainalysis)
Attacks by organization type. (Chainalysis)
There are good reasons not to pay a ransom, but good reasons to pay as well. (Pexels)
Banning ransomware payments risks criminalizing victims. (Pexels)
Read also
Features
Features
Mandatory disclosure and the threat of getting sued may force companies to improve cybersecurity. (Pexels)

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.