Ransomware Sanctions: Exploring the Fallout
In this podcast episode, Jamie Hayward, Tom Mills, Michael Aguilera and I explore the perplexing irony of the UK government's recent proposal to ban payments to Russian ransomware groups. We debate the ethical, legal and financial implications of such a move and challenge organisations to pre-emptively defend against cyber attacks.
"The best way to defeat exfiltration of your data - one of the best ways, there's a few - is using encryption." - Jamie Hayward
We were discussing the recent news about new regulations on paying ransomware groups connected to Russia. We explored the implications of this ruling, how it may affect companies and the potential problems and risks it could cause.
Through the discussion, we talk about the problem of reactive security and the proactive steps organisations can take to protect their data and be prepared for the worst case scenarios.
While this law is designed to protect businesses, it is not, in itself, a solution to the ransomware problem. We discuss how likely it might be that ransomware payments may be made illegal across the board and the implications of similar rulings on public, private, national and international organisations.
In this episode, you will learn the following:
- What are the implications for organisations when the so-called ‘safety net’ of paying a ransom is taken away
- Why reactive cyber security strategies are so risky
- What proactive recommendations we would give for securing an organisation
- The effect the ruling might have on cyber insurance
- The role of cyber education and training
- How can a universal set of regulations be created for information security?
If you are a new listener to Razorwire, we would love to hear from you. For more information about us or if you have any questions you would like us to discuss on the podcast email podcast@razorthorn.com.
Other episodes you'll enjoy:
How to Negotiate with Ransomware Groups
https://www.razorthorn.com/how-to-negotiate-with-ransomware-groups/
Threat Intelligence: Why Awareness is Critical, and Collaboration is Essential | Razorwire Podcast
Connect with Your host James Rees
Hello, I am James Rees, the host of the Razorwire podcast. This podcast brings you insights from leading cyber security professionals who dedicate their careers to making a hacker’s life that much more difficult.
Our guests bring you experience and expertise from a range of disciplines and from different career stages. We give you various viewpoints for improving your cyber security – from seasoned professionals with years of experience, triumphs and lessons learned under their belt, to those in relatively early stages of their careers offering fresh eyes and new insights.
With new episodes every other Wednesday, Razorwire is a podcast for cyber security enthusiasts and professionals providing insights, news and fresh ideas on protecting your organisation from hackers.
Listen to this episode on your favourite podcasting platform and for more information about us or if you have any questions you would like us to discuss on the podcast email podcast@razorthorn.com.
If you need consultation, visit www.razorthorn.com, We give our clients a personalised, integrated approach to information security, driven by our belief in quality and discretion.
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