National Magazine, “The price of paying cyber ransoms”
Big game hunting. That’s what the cybersecurity industry calls targeting large enterprises that cannot tolerate sustained disruptions to their networks, and who are willing to pay large sums of money to quickly see their operations quickly restored following a major hack. And it’s gaining popularity among cybercriminals.
David Krebs, an associate counsel with Miller Thomson LLP in Saskatoon, notes that if a business has proper backups in place, the calculation may be monetary. The company can then focus on a PR strategy to manage reputational issues around stolen data.
“They can say we’ll manage, but at least we didn’t pay a ransom,” says Krebs. “I don’t know if the health sector would necessarily have that luxury.”