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30% Of Companies Would Pay Ransoms To Cybercriminals
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Dr.T
50%
50%
Dr.T,
User Rank: Ninja
4/21/2015 | 9:04:50 PM
Re: Cost of Doing Business?
There are write-offs and other expenses that companies spend without real explanation around them. Nothing needs to be explained to the board, they are mainly on board anyway. :--))
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
4/21/2015 | 9:01:30 PM
Re: Cost of Doing Business?
I agree. At the same time it is not only CIO's responsibility. He/she does not really have any budget to cover all vulnerabilities.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
4/21/2015 | 8:58:49 PM
Re: Cost of Doing Business?
I agree companies put themselves to an hostage situation by not taking proper backup and require security measures. They wound pay ransoms to cover that fact.
Dr.T
50%
50%
Dr.T,
User Rank: Ninja
4/21/2015 | 8:56:18 PM
Only 30%?
I would think more companies would pay to recover their data. Data is very expensive when we need it. Companies would most likely do anything to get it back because of needs, regulations and laws.
Technocrati
50%
50%
Technocrati,
User Rank: Ninja
4/1/2015 | 7:06:12 PM
Re: Cost of Doing Business?

"...Sad to see this, and still curious why these criminals remain out of reach."

 

@geriatric    I agree.  And it is my firm belief companies do not want to spend the amount of money it will take to train and proactively monitor.  As you probably know - security based solutions are extremely expensive and if these companies go open source then they have a whole new set of conditions that they are ill-prepaired to deal with.

 

It really is disheartening, because companies are apparently more than willing to expose our personal information to the hands of hackers.   The system is so compromised now - how can any information be trusted ?

As far as catching the crimminals, who are usually outside the country acting under serveral networking layers just makes the issue of catching them nearly impossible.

So get ready for companies to start passing the cost of their ineptness onto consumers.   

Technocrati
50%
50%
Technocrati,
User Rank: Ninja
4/1/2015 | 6:56:48 PM
Re: Cost of Doing Business?

Overall, 30 percent of the organizations surveyed said they would negotiate with cybercriminals for the safe recovery of stolen or encrypted data;

 

This bizzare fact really does little to promote the recruitment of White Hat Hackers. In essence, it probably pays more to extort. 

I wonder how does the company classify this expense ?   How does one explain this to the board ?    Is this another reason for layoffs ?    

 

Probably.

Thomas Claburn
50%
50%
Thomas Claburn,
User Rank: Ninja
4/1/2015 | 6:12:27 PM
Re: Cost of Doing Business?
If you're paying a ransom to unlock corporate data, the money would be better spent firing your CIO or CSO and paying a recruiter to find someone who knows how to maintain secure, redundant backups.
geriatric
50%
50%
geriatric,
User Rank: Moderator
4/1/2015 | 6:48:39 AM
Cost of Doing Business?
It seems as if at least some have resigned themselves to what they believe is an inevitable hostage situation. This reminds me of kidnap insurance for individuals in some countries. You get kidnapped, you contact your insurance provider, they pay the kidnappers, you're home for dinner (so to speak). Sad to see this, and still curious why these criminals remain out of reach.


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