Tips for negotiating with cyber extortionists

Whether you are opposed to it or not, enterprises need to have a plan for negotiating with people who take their data hostage.

Paying ransom to a cyber extortionist holding enterprise data hostage might seem like a poor idea in principle but sometimes it might the best, or even only, option for extricating your organization from a crisis.

Seventy percent of businesses hit in ransomware attacks have paid to resolve the problem, half of them over $10,000 and 20 percent over $40,000, a recent IBM survey of 600 corporate executives showed. Nearly six in 10 indicated they would be willing to pay a ransom to recover data.

If your organization happens to be among those willing to consider a ransom payment, it is a good idea to devise a strategy for negotiating with the attackers before the need for it actually arises.

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