Should Companies Pay Up to Deal With a Ransomware Attack?

The COVID-19 pandemic inevitably brought unprecedented levels of disruption to businesses all around the world. Lockdowns and quarantines have forced companies to transfer their operations from on-premises activities to remote work. While this has ensured that businesses continued to keep running, many companies were not equipped for this sudden change.

Companies with the most responsive and forward-thinking leadership would already put in place a plan that would not only address a security problem when it happens but will also have a plan that will prevent it from happening.In July 2021, a ransomware attack was initiated by the Russia-based ransomware group called REvil. This attack affected the networks of approximately 200 companies.

An analysis should also be brought into effect to determine the maximum allowable downtime for these functions that will not drastically affect the company’s business. Having a recovery point and recovery time objectives are also equally important.One topic that is often discussed when it comes to ransomware attacks is whether an organization should pay the ransom.

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