Should ransomware payments be banned? – Week in security with Tony Anscombe

Blanket bans on ransomware payments are a much-debated topic in cybersecurity and policy circles. What are the implications of outlawing the payments, and would the ban be effective?

Editor

12 Jul 2024

Back in May, we weighed in on the UK's apparent plan to make it illegal for critical infrastructure entities to pay ransomware attackers. The move would be designed to deter cybercriminals from targeting vital services.

Two months later, the topic is making the news again. As Security Intelligence now reports, Jen Easterly, Director of the United States' Cybersecurity and Infrastructure Security Agency (CISA), has this to say about the subject: "I think within our system in the U.S. — just from a practical perspective — I don’t see it happening."

Now, as opinions seem to vary, what are the wider implications of an apparent lack of a global strategy on how to deal with ransomware payments? Also, how does cyber-insurance come into play, and what is the relevance of CISA's Secure-by-Design initiative (which ESET also signed) in this context? Watch Tony's video to find out.