A Third of Companies Would Consider Paying Hackers

A Third of Companies Would Consider Paying Hackers

Several companies are opting for short-term reactive cybersecurity despite high profile ransomware attacks.

A third of organizations would choose to pay a ransom instead of investing more in security according to a survey by NTT Security.

Decision makers at organizations around the work were asked if they would consider paying a ransom by a hacker rather than invest money in security measures because it would be cheaper. On average, a third of the surveyed said yes. An additional 16 percent said they didn't know what they would do.

According to the survey, organizations in Norway, France, Germany and Austria are most likely to give into a ransom over investing in security, with 40 percent of firms stating they'd consider taking this approach.

Thirty-five percent of U.S. firms said they would consider giving into a hacker's ransom. The country that would be least likely to choose the course of action was found to be the U.K., but the number still show about one in five of U.K. organizations would rather pay the ransom.

All this comes in the wake of high-profile ransomware attacks like WannaCry and NotPetya, which both demonstrated how vulnerable organizations can be to cyber attacks.

"While it is encouraging that many organizations are prepared to take a long-term, proactive stance, there are still signs that many are still prepared to take a short-term, reactive approach to security in order to drive down costs," said Kai Grunwitz, Senior VP for EMEA at NTT Security.

Those taking a "wait and see" approach to cybersecurity are taking risks on a number of levels: there information is open for the taking and if they do decide to play the hacker's game, there is no guarantee the hacker will keep up their side of the deal.  

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • Freedom of Choice

    In today's security landscape, we are witnessing a fundamental transformation in how organizations manage digital evidence. Law enforcement agencies, campus security teams, and large facility operators face increasingly complex challenges with expanding video data, tightening budget constraints and inflexible systems that limit innovation. Read Now

  • Accelerating a Pathway

    There is a new trend touting the transformational qualities of AI’s ability to deliver actionable data and predictive analysis that in many instances, seems to be a bit of an overpromise. The reality is that very few solutions in the cyber-physical security (CPS) space live up to this high expectation with the one exception being the new generation of Physical Identity and Access Management (PIAM) software – herein recategorized as PIAM+. Read Now

  • Protecting Your Zones

    It is game day. You can feel the crowd’s energy. In the parking lot. At the gate. In the stadium. On the concourse. Fans are eager to party. Food and merchandise vendors ready themselves for the rush. Read Now

  • Street Smarts

    The ongoing acceptance of AI and advanced data analytics has allowed surveillance camera technology to shift from being a tactical tool to a strategic business solution. Combining traditional surveillance technology with AI-based data-driven insights can streamline transportation systems, enhance traffic management, improve situational awareness, optimize resource allocation and streamline emergency response procedures. Read Now

  • The Progress of Biometrics

New Products

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.”

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.