What is ransom payment?

Payment of ransom is a decision to be made solely by the corporation or the victim’s family. If the payment of ransom or any other action taken in response to the extortion demands was itself a violation of local criminal law, the civil liability position could be aggravated.

What does the law say about ransomware?

This is reflected in the UK’s Terrorism Act 2000, which makes it an offence for an entity to pay a ransom if it knows or has reasonable cause to suspect that the money will or may be used for the purposes of terrorism.

Should you pay ransomware?

Law enforcement agencies recommend not paying, because doing so encourages continued criminal activity. In some cases, paying the ransom could even be illegal, because it provides funding for criminal activity.

How do you explain ransom to a child?

definition: the payment demanded in return for setting a kidnapped person free, or the act of setting someone free by paying the price demanded. The kidnappers demanded a ransom of one hundred thousand dollars. They are holding a five-year-old child for ransom.

What does the name ransom mean?

The name Ransom is primarily a gender-neutral name of English origin that means Deliverance, Rescue. Money paid for a prisoner’s release.

What happens when you pay a ransomware ransom?

Paying the ransom Paying the ransom as a ransomware victim means that your organization will be exchanging digital currency to have your files unlocked. Businesses that choose to pay the ransom are doing so because they need a decryption key, the code that will unlock you files.

What are the pros and cons of paying a ransom?

Understanding the pros of making a ransom payment will help weigh into the difficult decision you will be making. Paying the ransom increases the chances of getting your files unlocked and systems back to working order at your business.

Is it legal to pay ransomware with cryptocurrency?

In the United States, it is legal to engage with ransomware operators and pay ransomware with cryptocurrency however, due diligence must be performed prior to making a ransom payment.

How can we solve the ransomware crisis?

One might argue that the best way to solve the ransomware epidemic would be to make it illegal for organizations to pay.