Ransomware is a legitimate threat, with estimates from the U.S. Department of Justice showing that over 4,000 of these attacks have occurred every day since the beginning of the year.
Pay the Ransom or Not?
Organizations need to understand the risks associated with ransomware and weigh their options accordingly to determine which approach is the best one to take. However, experts suggest that paying the ransom in these attacks does not help. According to FBI Cyber Division Assistant Director, James Trainor, "paying a ransom not only emboldens current cyber criminals to target more organizations, it also offers an incentive for other criminals to get involved in this type of illegal activity." While the FBI does not support paying a ransom, it does recognize that executives, when faced with interoperability issues, will evaluate all options to protect their shareholders, employees and customers.