US urging allies not to pay hacker ransoms
Refusing to pay a ransom will either lead to a loss of data or a reduction in attacks
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Ahead of a meeting of global leaders in Washington, the US will push governments to combatransomwareby making a public statement to not pay hacker ransoms.
Ransomware has seen a gradual rise in use in attacks targeting banking institutions, government offices and hospitals.
The plan is for the group of over 45 governments to publicly announce non-payment in cases of ransomware ahead of their annual gathering.
No negotiation with cybercriminals
Ransomware is a form of malware that steals data and encrypts it before hackers request a fee for its safe return, or else the files will be deleted or sold. Ransomware has seen agradual increasein its usage by hackers over the past few years.
Speaking toBloomberg, deputy national security adviser Anne Neuberger said, “You’ve got to go to the root cause, the root cause is money.” Ransomware is one of the most profitable methods for hackers, mainly due to the ease of simply paying the ransom and continuing to operate, rather thanlosing important data.
If governments issue the statement to refuse to pay it is hoped that hackers will stop targetingcritical infrastructurewith such attacks. However, while Neuberger said that she is “incredibly hopeful” about the statement being accepted and issued by governments, there is a chance that the statement will be a discussion point rather than a pre-agreed affirmation.
Recent researchinto ransomware has found that while advances in cyber defenses are becoming more advanced, so too are hackers' abilities to deploy ransomware after a successful breach - falling from 4.5 days in 2022 to within a single day in 2023.
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Benedict has been writing about security issues for over 7 years, first focusing on geopolitics and international relations while at the University of Buckingham. During this time he studied BA Politics with Journalism, for which he received a second-class honours (upper division), then continuing his studies at a postgraduate level, achieving a distinction in MA Security, Intelligence and Diplomacy. Upon joining TechRadar Pro as a Staff Writer, Benedict transitioned his focus towards cybersecurity, exploring state-sponsored threat actors, malware, social engineering, and national security. Benedict is also an expert on B2B security products, including firewalls, antivirus, endpoint security, and password management.
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