Companies hiding ransomware payments
Ransomware attacks are ugly. For every ransomware attack news story we see in our feed, a different reality hides behind it. Victims secretly pay their attackers. The shadow economy feeds on corporate guilt and regulatory hysteria.
Companies are hiding the true numbers of ransomware incidents. For each attack that makes headlines, five more companies quietly push it under the carpet, keeping it secret, and wire cryptocurrency payments to attackers, in hopes of avoiding detection. We can call it corporate cowardice, but this gives confidence to the ransomware cybercriminals. It costs the victims $57 billion annually and directly damages the devices that we use.
Paying attackers fuels future attacks
According to the FBI, it “does not support paying a ransom in response to a ransomware attack. Paying a ransom doesn’t guarantee you or your organization will get any data back. It also encourages perpetrators to target more victims and offers an incentive for others to get involved in this type of illegal activity.
The patches in our smartphones exist because companies suffer attacks. Our laptop endpoint protection was developed from enterprise systems compromised by ransomware groups that used secret corporate ransoms to invest in more advanced malware.
Corporate guilt is a reason for keeping payments secret
Few experts believe that for every reported ransomware attack, five more are kept hidde
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