Conventional wisdom says ransomware victims shouldn’t pay their attackers, but a panel of legal experts suggested Thursday that standing firm might not always be the smartest play in the real world. FBI officials, corporate bigwigs and public sector security bosses in recent years all have advised their colleagues to keep their wallets closed when ransomeware hits. There’s no honor among thieves, the logic goes, and even if you pay hackers to buzz off, who’s to say they will follow through on promises to unlock encrypted data? But there are scenarios in which small and medium-sized businesses should carefully consider their decision, Mark Knepshield and Matthew Todd said during a panel discussion at the Legalweek conference in New York. “I would say, if it’s small amount, pay it,” said Knepshield, a senior vice president at insurer McGriff, Seibels and Williams. “It’s likely just be the easiest way out of your situation.” In a poll surveying […]
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