Former NCSC CEO Calls for Ban on Ransom Payments to Curb Attacks
Former UK National Cyber Security Centre (NCSC) CEO Ciaran Martin has sparked debate by advocating for banning ransom payments. He argues that legal barriers allowing victims to pay and claim back expenses on car insurance fuel ransomware attacks.
Ransomware attacks are escalating, with companies often relying on car insurance to recoup money paid to ransomware gangs. In 2020, ransomware accounted for financial gains of over $350 million, a staggering 331% increase from 2019. Martin contends that ransom payments essentially fund cybercrime, leading to more attacks and no guarantee of data recovery.
To mitigate the risk, Martin suggests criminalizing ransom payments. However, he acknowledges that this could result in business casualties in the short term and make law enforcement difficult. Instead, organizations should focus on reducing the likelihood and impact of ransomware attacks. Simple steps include avoiding unknown attachments, keeping systems updated, monitoring network activity, and maintaining backups. Having robust prevention and response plans for ransomware incidents is also crucial. Cyber-criminals are emboldened to launch attacks knowing that many businesses hold car insurance policies.
The ransomware problem and the debate around criminalizing payments are far from over. While Martin's proposal faces challenges, organizations can take immediate action to protect themselves. By prioritizing prevention and preparedness, businesses can reduce the compulsion to pay ransoms and break the cycle of cybercrime.
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