6 Reasons Not to Pay the Ransom in a Ransomware Attack

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Meet the Expert

6 Reasons Not to Pay the Ransom in a Ransomware Attack

The ransomware threat is huge. By encrypting data, hackers effectively lock companies out of their computer systems, bringing operations to a halt and in some cases forcing businesses to shutter their doors permanently. Given these high stakes, it’s no surprise that many businesses are forced to consider giving hackers what they want — a ransom payment to decrypt the data. But should they? In most cases, the answer is no. Businesses should avoid paying the ransom unless they have no other viable options for survival. Dale Shulminstra explores the reasons.

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In the Know...

Hospital’s Cyber Attack Shows What Disruption Looks Like

Staffers at Johnson Memorial Health were just coming out of a weeks-long surge of covid-19 hospitalizations and deaths, fueled by the delta variant when it happened. On Oct.1, 2021 at 3 a.m. ET, a Friday, the hospital CEO’s phone rang with an urgent call letting him know the hospital got hacked. After the ransomware attack, the staff at Johnson Memorial suddenly had to revert to low-tech ways of patient care. They relied on pen and paper for medical records and notes, and sent runners between departments to take orders and deliver test results.

Read about their disruption >>

Coming Soon: New AI tools may help with rapid predictions of extreme weather events

Looking at both global and more local scales, these tools can predict both weather trends and precipitation.

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Safe at Home: Younger Canadians are increasingly considering the threats posed by severe weather when buying homes

Whether via location, or the inclusion of additional insurance endorsements, individuals are taking care to avoid exposure to storms, floods, and wildfires.

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Everything Everywhere All at Once: The increased frequency and severity of natural disasters is driving up insurance costs around the world

Disaster reinsurers are also seeing their costs climb, resulting in higher prices, and insurance companies pulling out of some markets.

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Setting the Standard: The White House releases the first iteration of their National Cybersecurity Management Plan

The plan focuses on the national need for more capable cybersecurity actors, and the development of long-term cyber-resilience.

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More than Necessary: Excessive access and privileges can lead to significant security risks

Organizations should regular review access rights to ensure people only have the minimum required.

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A Sudden Shift: Canadian police and emergency responders are considering moving from Twitter to Threads

Recent instabilities within Twitter have encouraged agencies to seek alternate platforms for communications.

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Should your CEO be an active member of your crisis management team?

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The BCI Operational Resilience Report 2023

This 68-page report shows significant positive change in the understanding, adoption, and development of operational resilience programs during the past year. With new financial services regulation being rolled out around the world, together with non-FS sector organizations adopting operational resilience into their organizations over the past year – either for good practice purposes or the need to comply as a stakeholder of a regulated organization – a greater understanding and appreciation of operational resilience is clearly echoed in the research findings. You will find this report useful and it will likely serve an aid for building operational resilience programs within your own organization.

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