Ransomware Ruckus: Can Banning Payments Stop the Digital Deluge or Just Soak Us?
Ransomware bans: effective deterrent or just as useful as banning umbrellas to stop rain? The UK’s potential ban on ransom payments sparks debate. Some experts argue it could drive incidents underground, while others see it as a key deterrent. Meanwhile, organizations are urged to boost resilience against this stormy threat.
Hot Take:
**_Picture this: banning ransom payments to stop ransomware is like telling a toddler to stop crying by taking away their candy. Sure, it might stop the immediate problem, but you better believe it’s going to get messier before it gets better._**
Key Points:
– Ransomware is the star of the cybercrime show, accounting for 44% of breaches, a 37% increase from the last report.
– Despite more ransomware attacks, the median ransom paid has dropped from $150,000 to $115,000.
– The UK government is eyeing a ban on ransom payments for public sector entities.
– Experts are divided: some say bans could curb crime, others believe it could drive it underground.
– The best line of defense remains robust cybersecurity practices and incident response strategies.