What are the considerations when paying ransom in the event of an attack? Paying ransom is never an easy decision for any organization. The amount can reach tens of millions of dollars, and there’s no guarantee that even if paid, companies can restore their files, recover exfiltrated data, or ensure that sensitive information won’t be leaked on the Dark Web.

In mission-critical industries like healthcare or finance, organizations may feel they have little choice but to make the payment to restore operations. But what are the legal and regulatory repercussions of paying ransom? The short answer is yes—there are significant considerations.

As our Chief Security and Trust Officer, Ben Carr, discusses, paying ransom, resuming operations, and moving on from the ordeal isn’t as straightforward as organizations might hope. Even if the ransom is paid, it doesn’t negate regulatory responsibilities surrounding the data that was accessed or exfiltrated, even if it’s returned or deleted.

While paying ransom is not typically illegal, there are cases where it could be considered funding criminal activities or even violating OFAC regulations, depending on the jurisdiction and the nature of the specific attack.

While the immediate monetary consequences may be top of mind when paying ransom, the legal, regulatory, and reputational risks must also be carefully considered.

Don't miss this critical discussion on the complexities of ransom payments in the event of a cyberattack. For more insights, reach out to us and schedule a consultation today!

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