Should Hackers Be Paid? The Ethics of Ransomware Demands
Download MP3Cyber Attacks and Ransomware Payments: Cyber attacks and ransomware are so pervasive that governments may step in to make payments illegal. This is part of a broader push to address these growing threats.
Background on FCPA (Foreign Corrupt Practices Act):
- The FCPA was introduced nearly 30 years ago in response to corruption in foreign countries.
- Companies were often forced to pay bribes to foreign governments to set up factories or divisions.
- The U.S. government passed the FCPA to make paying bribes illegal and protect companies from being penalized for refusing to engage in corrupt practices.
The Similarity to Ransomware:
- Ransomware payments, like bribes, have become widespread, with companies and insurance companies struggling with the situation.
- The government is considering creating laws to make paying ransomware ransoms illegal, similar to how the FCPA addressed foreign bribery.
Ransomware as a Potential Violation of the FCPA:
- If ransomware hackers are part of a government or act as its extension, paying ransom may already violate the FCPA.
- The U.S. government is working on finding ways to disrupt ransomware networks, which involve thousands of hacks annually.
Cyber Insurance and Ransomware:
- Cyber insurance policies can cover many aspects of cyber attacks, including monitoring, repairs, and business disruption, but typically, they don't cover ransomware payments.
- The government is considering prohibiting insurance companies from covering ransomware payments, which could significantly impact companies.
Controversy Over Paying Ransoms:
- There is ongoing debate about whether paying ransoms should be illegal or if protections should be built into the system.
- Cyber insurance is one option businesses can use to protect themselves from cyber attacks, with services such as active monitoring, response teams, and risk management.
Conclusion:
- The debate over paying ransomware ransoms continues, and the government may intervene.
- Cyber insurance remains an essential tool for businesses to protect against cyber threats, but the future of ransomware payments is uncertain.
Consultation Offer:
- Remember, you can schedule a live one-on-one consultation with experts in various fields, including private investigators, insurance brokers, title examiners, and more, through ActualHuman.com.
