Hit by ransomware? Make sure you don't make this first obvious mistake

Organisations that fall victim to a ransomware attack shouldn’t let the cyber criminals know they have cyber insurance – because if the attackers know that their victim holds an insurance policy, they’re more likely to outright demand the ransom payment in full.

Cybersecurity researchers at Fox-IT, part of NCC Group, examined over 700 negotiations between ransomware attackers and ransomware victims in order to analyse the economics behind the digital extortion attacks that demand a ransom payment – often millions of dollar in Bitcoin – in exchange for the decryption key.

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They found that if the victim has cyber insurance and that the attacker knows about it, then there’s little manoeuvre for negotiating for a smaller ransom payment, because the attackers will exploit the existence of the cyber insurance to cover the payment they’re demanding.

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Read More: https://www.zdnet.com/article/hit-by-ransomware-make-sure-you-dont-make-this-first-obvious-mistake/#ftag=RSSbaffb68