Ransomware is a type of malware that prevents you from accessing your devices and the data stored on them by encrypting the data. These ransomware attacks are one of the greatest threats that businesses face, as it can bring operations to a halt or collapse the entire business. With stakes that high, it’s only normal to be asking yourself, should you pay ransomware demands? With ethical and legal consideration having to be made the questions stands: should you pay ransom to hackers or not?
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Should You Pay Ransomware Demands?
Put simply, you should never pay a ransom if you are hit with a ransomware attack. There are no guarantees that you will regain your information if you pay, nor prevent it from being leaked or sold online. There are also ethical, legal, and public perception considerations that come into play should you pay ransom to hackers.
Ethical Concerns
When asking yourself if you should pay ransomware demands, you may face an ethical dilemma. On one hand, you are focused on restoring and protecting business operations. On the other hand, you are paying anonymous cyber criminals, with no guarantee of restoring your data. In the heat of the moment, you may decide that it is best to pay the money and take the gamble on your data. If you do this, you should also know the legality of your choices, as making a ransom payment could be in breach of Australian laws.
Legality
Making or facilitating a ransomware payment could breach Australian sanctions laws and result in criminal penalties for you or your business. Breaching the Australian autonomous cyber sanction law is a serious criminal offence, with penalties including up to 10 years in prison and substantial fines. For this reason, it is best to never pay a ransom and instead report it to the correct authorities to make sure you are in accordance with all laws.
Public Perception
If the above didn’t already deter you from paying a ransom to hackers, doing so can also cause a fall in company reputation. By paying a ransom, you may magnify the public awareness of an incident and, in turn, impact the perception of your business. This can lead to a loss of trust with the public and deal a serious blow to your business’s reputation.
What To Do If You Are Hit by A Ransomware Attack
Now that you know that it is in your best interest to not pay a ransom, it’s time to try and recover what you can. By following these steps, you will be able to work through a ransomware attack and set your business up for success moving forward.
Record Important Details
You will need to record any important details of the attack. This includes if the file affected has a new extension, the new extension name, the ransom note itself, and anything that has changed since the attack. You can make a report using this information through ReportCyber.
Turn Off Infected Device
As soon as you have recorded all the details, turn off the infected device. For most companies, this is the best way to stop the ransomware from spreading to other devices and accessing more data.
Disconnect Other Devices
Ransomware can spread via your network. If there are other devices on your network, you should turn them off. Start with the devices that store important information. These could be servers, computers, or phones.
Change Important Passwords
Some ransomwares can steal passwords. It can be hard to tell what information ransomware has access to, so as a precaution, you should change any sensitive passwords immediately.
Recover Your Information
After an attack, you will want to check that your data backups are free from ransomware. If they are, you will be able to wipe your devices, reinstall the operating systems, and restore the data. Only do this if you are 100% confident it is free from ransomware.
Protect Yourself
Finally, you will want to protect yourself form future ransomware attacks. For this, you will want to regularly update your devices, perform regular backups, implement access controls, and use antivirus software. The easiest way to stay protected is to have a trusted IT partner, like Connected Platforms.
Avoid Catastrophe with Connected Platforms
For everything from managed IT services to IT disaster recovery planning, work with Connected Platforms. Say goodbye to asking if your data is safe or should you pay ransomware. With our expert IT services, your business and data will be free from disruptions and running at full capacity. Get in touch for a FREE IT Health Check through our contact form or by calling us on 07 3062 6932.
