Anne Neuberger, the U.S. Deputy National Security Adviser for Cyber and Emerging Technology, wrote an opinion piece in the Financial Times on the evolving nature of ransomware attacks and the need for an updated response. This piece revisits the issue of banning ransomware payments, a topic we’ve previously covered as the ransomware crisis continues to worsen link. Neuberger emphasizes ransomware’s significant threat to critical infrastructure worldwide, with billions in losses and frequent disruptions.
Neuberger underscores the troubling practice of reimbursing ransomware payments, stating, “Some insurance company policies — for example covering reimbursement of ransomware payments — incentivise payment of ransoms that fuel cyber crime ecosystems. This is a troubling practice that must end.” She highlights that “not only is this money that could otherwise be spent on salaries, taxes and business development, but it is money that is going directly into the hands of criminal enterprises and rogue states.”
Neuberger also calls for improved cybersecurity practices, urging companies to act immediately. “Chief executives and corporate boards should codify and implement them immediately, for the health of their own enterprises and their national economies,” she says, pointing to measures like data encryption, backup testing, and multi-factor authentication as essential defenses against ransomware attacks.
Full article here – The ransomware battle is shifting — so should our response.
Other News: Should Ransomware Payments Be Banned?(Opens in a new browser tab)