Which ransomware payment option is best in Shropshire?

Which ransomware payment option is best? (Hint: none)

February 27, 2024
Cyber criminals are giving you more options when it comes to paying your way out of a ransomware attack. Our advice remains the same though. Find out what that advice is here.

Which ransomware payment option is best in Shropshire? Why would you ever be considering Imagine this scenario: Your Shropshire-based business falls victim to a ransomware attack, leaving your invaluable data under lock and key by nefarious cybercriminals demanding an eye-watering ransom.

Affording the ransom isn’t an option. Yet, in a curious twist reminiscent of “buy now, pay later” offers, certain ransomware syndicates are now presenting victims with the option to extend their payment deadlines.

Recent investigations have uncovered that these ransomware factions are evolving their extortion tactics. Among them, one faction is providing victims with a menu of ransom demands. These “options” range from:

  • Forking out a fee to postpone the publication of their pilfered data, with a starting price of £10,000, to paying for the outright deletion of their stolen data before it becomes public.

The exact figures are subject to negotiation with the victims, introducing a deeply unsettling aspect to the entire episode.

To ramp up the pressure on their targets, these ransomware groups have introduced some particularly sinister features on their websites. These include countdown timers that show the dwindling time before the data’s release, view counters, and even tags that disclose the victim’s identity and details.

It’s a strategy designed to corner victims and push them towards meeting the demands.

Why Paying Ransomware Isn’t Worth Your Cash

The instinct might be to pay up to safeguard your business’s data. However, this approach is fraught with pitfalls. Here’s why paying is a misguided move:

  • There’s no assurance that paying will secure the return of your data or prevent further demands for money.
  • By paying, you’re essentially bankrolling criminal enterprises, spurring them on to target more businesses.
  • Making ransom payments could even land you in legal hot water, with legislation in place in certain jurisdictions against paying cybercriminals. In the UK at time of publication it is not illegal but advisable to seek other means of data recovery.

Alternative Strategies to Combat Ransomware Without Paying

So, what measures can you take to shield your Shropshire business from the threat of ransomware?

  • Maintain regular, secure backups of your data to avoid being held to ransom.
  • Train your team on the dangers of ransomware and how to spot phishing attempts and dubious links.
  • Invest in high-quality cybersecurity software and ensure it’s always up-to-date.
  • Regularly update your systems and software with the latest security enhancements.
  • Implement network segmentation to curtail the spread of ransomware should one device become compromised.
  • Formulate a comprehensive incident response strategy so you’re prepared for any ransomware attacks.

Paying cybercriminals seldom improves the situation, and businesses that capitulate often find themselves targeted anew. Instead, fortify your defences with the proactive strategies listed above. Should you need assistance in enhancing your cybersecurity posture, don’t hesitate to reach out to us.

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