Chief Information Security Strategist Vericast Austin, Texas, United States
Among the decisions faced with ransomware attacks is whether to pay. Paying may invite further attacks; taking a “no payment” position can mean losing access permanently to systems and data. Organizations may decide there’s no choice but to pay up. But the reality is more complex. Paying ransoms, typically in cryptocurrency, requires organizations develop technical, legal and corporate processes and infrastructure before they are needed. Not preparing effectively risks delays and further problems. How to trade cryptocurrency? How to account for payment? Are you breaking the law?
This session provides attendees with a critical checklist for paying digital ransoms, designed for incorporation into their incident response plans to help them make critical decisions about if, when and how they should pay during a ransomware crisis.
Learning Objectives:
Decide what is required to pay a digital ransom including the technical, legal and corporate processes and infrastructures that must be in place in advance to avoid delays and risks in payment, and whether their organizations are adequately prepared to pay a digital ransom if necessary.
Identify the organizational processes and stakeholders, from IT to Legal to the CFO, required for paying digital ransoms and properly account for those payments. And coordinate an action plan within their own organizations using the provided checklist to develop ransomware payment thresholds and policies.
Explain to executive leadership the pros and cons of paying digital ransoms, the requirements for avoiding further legal and technical problems, and the options and necessary stakeholder contributions for both in-house and outsourced payment strategies should they be required.
