To pay or not to pay a ransom demand, that is the question

Lawyers' Forum

By Stel Valavanis

Stel Valavanis is CEO of onShore Security, a managed cybersecurity provider based in Chicago.

Posted December 31, 2020 8:52 AM

I’m beginning to think we should ban ransom payments to criminals or at least disallow insurance to cover them. I know that sounds extreme, but hear me out. It’s worth exploring at this time, as the scope of the problem is growing in the wake of COVID-19.According to a new report by Emisoft, ransomware demand costs could reach new highs this year, exceeding $1.4B in the United States in 2020.The ransomware problem, however, is not likely something that can be challenged by any individual. It will take a …

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