Ransomware: The First Mistake Organizations Need to Avoid

Share post:

A mistake that many organizations must avoid, if they are hit by a ransomware attack, is to not let the attackers know that they have insurance.

The revelation by security researchers at Fox-IT shows that once attackers know that the victim has cyber insurance, negotiating a lower ransom becomes almost impossible.

The reason for this is that attackers exploit the existence of a cyber insurance to manipulate the victims in order to pay the demanded ransom amount. It is possible that attackers know about the cyber insurance of a company even without informing the victim.

This can be achieved once the attackers have gained access to the victim’s network prior to carrying out the attack. Therefore, organizations are warned not to store any document related to their cyber insurance on an accessible server.

The research examined over 700 negotiations between Ransomware attackers and Ransomware victims in an attempt to unravel the economy behind digital extortion.

If you are hit with a Ransomware attack, the researchers advise: “The first thing any company should teach their employees is not to open the ransom note and click on the link inside it… the timer starts to count when you click on the link. You can give yourself some valuable time by not doing this. Use this time to assess the impact of the ransomware infection.”

For more information read the original story in ZDNet.

Featured Tech Jobs


Related articles

Google Play introduces new biometric verification with a user warning

Google has recently announced updates to the biometric verification process for Google Play purchases, aiming to bolster security...

Cyber Security Today, Week in Review for week ending Friday April 19, 2024

On this episode Jen Ellis, co-chair of the Ransomware Task Force, talks about ways of fighting one of the biggest cyber threats to IT d

Cyber Security Today, April 19, 2024 – Police bust phishing rental platform, a nine-year old virus found on Ukrainian computers, and more

This episode reports on a threat actor targeting governments in the Middle East with a novel way of hiding malware is going international

Controversial expansion of US surveillance powers nears Senate vote

The US Senate is poised to vote on a significant expansion of Section 702 of the Foreign Intelligence...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways