NCSC and Insurers Unite Against Ransom Payments: UK’s New Guidebook to Curb Cyber Extortion

Struggling with ransomware? The UK’s NCSC and insurers unite, issuing a no-pay playbook to thwart cybercrooks. Don’t just fork over the cash, get wise with their new guide! #RansomwareResistance

Hot Take:

Oh, UK’s National Cyber Security Centre, you caped cyber-saviors, swooping in with a guidance book to snatch potential ransom-paying victims from the clutches of evil ransomware overlords. It’s like a self-help book for the cyber-threatened – “How to Say No to Digital Extortionists and Feel Good About It.” But will this noble coalition’s sage advice truly keep the cyber-baddies’ wallets on a diet, or will it be as effective as a chocolate teapot? Only time will tell if this is a game-changer or just another feel-good paper shield.

Key Points:

  • The NCSC teams up with insurance associations to combat ransomware payments.
  • A shiny new guidance book is out, but it’s not a ransomware fix-it manual.
  • Plot twist: paying ransoms doesn’t guarantee cybercriminals will play nice.
  • The guide is a gap filler while the UK gov contemplates a ransom ban.
  • Insurers push for cyber resilience while the NCSC gives cybercriminals the cold shoulder.

Need to know more?

Public Service Announcement: Don't Feed the Trolls

As revealed by the NCSC's CEO at the CYBERUK fancy dress party (read: conference), the UK's cyber-defenders, along with their insurance buddies, have published a "don't pay the baddies" manual. Instead of panicking and emptying your digital piggy banks at the first sign of trouble, the guidance book suggests doing something quite radical: thinking.

Why Paying Ransoms Is Like Feeding Pigeons

It turns out, and hold onto your hats, that cybercriminals might be a tad untrustworthy. Who knew? Those LockBit leaks have shown that the "delete your data" pinky promise might just be a pinky fib. And paying up might just get you a VIP pass to the "Attack Me Again, I'm Easy" club. It's a classic case of damned if you do, probably still damned if you don't.

While You Wait for the No-Ransom Law...

Over in the UK, they're chewing over the idea of a legal ban on paying ransoms faster than a cow on a particularly juicy cud. But legislation takes time, probably measured in glacial epochs, so this guidebook is like the complimentary peanuts on a long-haul flight – it's not the meal, but it'll tide you over.

Who's at Risk? Spoiler: Everyone

Despite experts screaming into the void that ransomware is the boogeyman hiding under everyone's bed, some still sleep with one eye open, muttering "it'll never happen to me." The NCSC and insurers are waving their hands in the air, trying to get everyone to join the "undermining ransomware" conga line.

Insurers: The Unlikely Cyber Heroes

Insurance associations are not just for dull policy paperwork; they've got cyber tricks up their sleeves too. They're doling out advice like free samples at a supermarket, hoping to bulk up the UK's cyber muscles. The ABI's Mervyn Skeet and the rest are practically high-fiving each other over this collaborative flex against cybercrime.

Ransomware: The C-Suite's New Headache

Nothing says "intense" like a ransomware attack on your organization, prompting a flurry of C-suite executives to sweat bullets over whether to pay up or stand firm. Sarah Pearce, a partner at Hunton Andrews Kurth, tips her hat to this new initiative, reminding us that caving into demands is like telling cybercriminals, "Your crime does pay, please continue." It's about as advisable as a diet based solely on donuts.

And there you have it, folks! The UK's latest cybersecurity escapade – a tale of guidance, resilience, and an unspoken prayer that common sense prevails before the cybercriminals upgrade from dinghies to yachts.

Tags: cyber insurance, Cyber Resilience, Cybercrime, Ransom Payments, Ransomware Gangs, Ransomware Prevention, UK National Cyber Security Centre