It’s no secret that ransomware is an acute threat facing organizations across sectors. From storied corporate institutions to small businesses, no organization is immune. Up until recently, companies could adopt a linear approach to the “pay or no pay” question around ransomware threats. Primary considerations focused on the impact of the operational disruption, the viability of backups vs. the need for a decryption key, and the scope of cyber insurance coverage.
However, the significant shifts we are witnessing in today’s ransomware landscape and threat actor tactics are putting increased pressure on organizational leadership to re-evaluate not only their decision-making process around ransom payments, but also how they mitigate reputational risk surrounding these issues.