Threat Management

Public ransomware disclosures discourage payments

Thirty-seven percent of IT security decision-makers said that they would pay ransomware demands but 57% reported that they would no longer do so if the payments should be disclosed to the public, reports TechRadar. A Venafi report showed that 22% have regarded ransom payments as "morally wrong," while 60% have associated ransomware attacks with terrorism. However, most organizations have been found to have a "false sense of security" even though they were overly concerned regarding ransomware, according to Venafi Vice President of Ecosystem and Threat Intelligence Kevin Bocek. Researchers found that 77% expressed confidence in the ability of their security systems to protect them from ransomware attacks but 67% and 80% of those from firms with over 500 and 3,000 employees, respectively, reported experiencing ransomware attacks during the past year "Too many organizations say they rely on traditional security controls like VPNs and vulnerability scanning instead of modern security controls, like code signing, that are built into security and development processes," said Bocek.

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