Get the latest tech news
The push to ban ransom payments is gaining momentum
Ransomware costs victims an estimated $30 billion per year and has gotten so out of control that global support for banning payments is gaining momentum.
After the 36,000-student Minneapolis Public Schools refused to pay a $1 million ransom, the attackers published confidential documents that include sexual assault records, and reports on psychiatric hospitalizations, abusive parents, truancy, and suicide attempts. Last October, the US and a consortium of 48 countries, the European Union, and Interpol, pledged to no longer pay ransoms, a hard-fought agreement that aims to disrupt the ransomware business model and promote international cooperation in combating cybercrime. States adopting a more radical approach to deterring ransom payments will lead the way to a more resilient future where the scourge of ransomware can no longer cripple essential services and bleed companies for billions of dollars every year.
Or read this on Hacker News