Ransomware Payment Options and Why You Shouldn't Pay

?

In the ever-evolving landscape of cybersecurity, a disturbing trend has emerged: cybercriminals are now providing victims with multiple payment options, seemingly mirroring the dubious allure of "buy now, pay later" schemes. I've compiled the full story for you, shedding light on the unsettling developments in cybercrime.

Recent research indicates that ransomware groups are adopting creative tactics to maximize their extortion strategies. One particularly audacious group offers victims a menu of choices for ransom payments. These options include paying to delay the publication of stolen data, with a standard fee of $10,000, or paying to have the stolen data permanently deleted before it reaches the public eye. The actual amounts are often subject to negotiation, intensifying the distress of the victims.

Ransomware groups have incorporated alarming features into their websites. These include countdown timers indicating the time remaining before the data release, view counters, and tags revealing the victim's identity and description. The intention is clear – to create an environment where victims feel cornered and are more likely to succumb to the demands.

Despite the temptation to pay the ransom to safeguard your business data, it's crucial to resist this urge. Here's why:

1.???? No Guarantee: Paying doesn't ensure the retrieval of your data or prevent cybercriminals from demanding additional funds later.

2.???? Funding Criminal Activities: By paying, you inadvertently finance criminal activities, potentially fueling more attacks on others.

3.???? Legal Consequences: Paying a ransom may lead to legal troubles, as some governments have deemed it illegal to negotiate with cybercriminals.

?

So, what proactive steps can you take to safeguard your business from falling victim to ransomware?

·??????? Regular Backups: Ensure you have secure, regular backups of your data to minimize dependence on cybercriminals.

·??????? Employee Education: Educate your staff about ransomware risks, training them to identify phishing emails and suspicious links.

·??????? Cybersecurity Investment: Invest in robust cybersecurity software and keep it current to fortify your digital defenses.

·??????? Regular Updates: Keep your systems and software updated with the latest security patches to mitigate vulnerabilities.

·??????? Network Segmentation: Segment your network to limit the spread of ransomware in case one device gets infected.

·??????? Incident Response Plan: Develop a clear incident response plan, ensuring a swift and effective reaction if faced with a ransomware attack.

Paying cybercriminals rarely leads to positive outcomes, with businesses that cave in becoming recurrent targets. Instead, focus on investing in proactive measures above to fortify your security. Of course, if you'd like to speak with a Pro, our team is here to help. Reach out when you're ready to chat.

Andy Strouse

IntermixIT - Co-Founder

[email protected]