Paying The Ransom In Response To A Ransomware Attack Can Sometimes Backfire

One of the key decisions that needs to be made in the aftermath of a successful ransomware attack is whether or not the victim organization can or should pay the ransom. Of course, there are many considerations that go into such a decision – for example, whether the payment is legally permissible, the ease of system restoration absent paying the ransom, the harm that might result to the company or its consumers if systems cannot be timely restored, or whether there are reputational risks or ethical concerns, amongst many other considerations.

A new study by Hiscox, a privacy and cyber security insurance company, sheds light on additional practical concerns that should be taken into account in that balancing of potential risks and benefits.