“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying encryption keys that are going to let me get this customer online faster, and that reduces my cost of the incident.’ They think they’re getting value.’
But if an attacker demands a payment from a victim solely in exchange for not releasing its data online, that’s likely not something an insurer is going to cover, Wisniewski said. “They’re not paying for hiding [a breach] from the GDPR regulators,’ he said.”
The Clop cybercriminal gang is likely to receive up to $100 million in data extortion payments from victims of the MOVEit attacks, according to Coveware.
Source: MOVEit Attacks Could Yield Up To $100M In Extortion Payments: Cyber Firm | CRN