Responding To Ransomware: The Importance Of Not Paying The Ransom

Forbes - Feb 6th, 2025

Grayson Milbourne, a security intelligence director at OpenText Cybersecurity, highlights the escalating threat of ransomware attacks on organizations, emphasizing that paying ransoms is not a viable solution. Despite the immediate pressure to recover stolen data, paying ransoms fails to guarantee data recovery and often results in further attacks. Survey findings reveal that ransomware incidents are increasing, particularly among small- and medium-sized businesses (SMBs), with a significant portion of attacked companies opting to pay ransoms ranging from $1 million to $5 million.

The story underscores the broader implications of ransomware, including potential legal and reputational damage for breached organizations. Data security laws like GDPR impose heavy fines for data leaks, amplifying financial risks. Milbourne stresses the importance of proactive data protection strategies, such as implementing strong encryption, regular data backups, and security awareness training to mitigate ransomware threats. By refusing to pay ransoms and prioritizing robust cybersecurity measures, organizations can help weaken the ransomware market and protect their digital assets.

Cybersecurity Data Security Ransomware Gdpr Grayson Milbourne Open Text Cybersecurity

Story submitted by Fairstory

RATING

7.6

Fair Story

Consider it well-founded

The article provides a comprehensive and factually accurate overview of the ransomware threat, emphasizing the importance of not paying ransoms and adopting preventive measures. It is well-structured and timely, addressing a significant public interest issue with practical advice for organizations. While the article is engaging and clear, it could benefit from greater transparency regarding its sources and methodology. Additionally, incorporating diverse perspectives and ethical discussions would enhance its balance and depth. Overall, the article is a valuable resource for understanding the current state of ransomware and its implications for businesses and individuals.

Accuracy

The article provides a detailed and factually accurate overview of ransomware attacks and their impact on organizations. The claims about Grayson Milbourne's position and the nature of ransomware attacks are well-supported and align with known industry knowledge. The article accurately describes the consequences of data theft, including financial loss, reputational damage, and legal ramifications, which are consistent with widely recognized outcomes of data breaches. The statistics from the 2024 Global Ransomware Survey, such as the frequency of attacks and ransom payment trends, are plausible and reflect current cybersecurity challenges. Overall, the story demonstrates a high level of factual accuracy, with minor areas needing further verification, such as the specific survey results and their methodology.

Balance

The article presents a balanced view of the ransomware issue, focusing on the negative consequences of paying ransoms and emphasizing the importance of preventive measures. It provides a comprehensive list of best practices for protecting against ransomware, which reflects a proactive approach to cybersecurity. However, the article could benefit from including perspectives from organizations that have faced ransomware attacks and their decision-making processes regarding ransom payments. This would provide a more nuanced understanding of the challenges organizations face in these situations.

Clarity

The article is well-structured and clearly written, making complex cybersecurity issues accessible to a general audience. It logically progresses from explaining the problem of ransomware to offering solutions, maintaining a neutral and informative tone throughout. The use of subheadings and bullet points for best practices aids in clarity and comprehension. However, some technical terms, such as 'encryption' and 'intellectual property,' could be further explained for readers unfamiliar with cybersecurity terminology.

Source quality

The primary source of information is the 2024 Global Ransomware Survey conducted by OpenText, which adds credibility to the article. Grayson Milbourne, as a security intelligence director at OpenText Cybersecurity, is a credible authority on the topic. However, the article relies heavily on a single source, which could introduce bias. Including additional sources, such as independent cybersecurity experts or studies from other organizations, would enhance the reliability and depth of the reporting.

Transparency

The article provides some context for its claims, such as referencing the Global Ransomware Survey, but lacks detailed information on the survey's methodology and sample size. Greater transparency about how the survey was conducted and any potential conflicts of interest would improve the article's credibility. Additionally, disclosing any affiliations or financial interests related to the publication or the author could further enhance transparency.