Ransomware payments can be necessary, say panellists

Paying off hackers may be only way to safeguard financial stability, despite risks

Data Management Partner For Regulatory Compliance

Paying off the perpetrators of ransomware attacks may, in some cases, be the most appropriate exit for financial institutions whose data is compromised by hackers, said regulators speaking on a panel at the Central Banking Summer Meetings 2024 in London.

Ransomware has become endemic in recent years with cyber hackers – often highly organised and sometimes supported by state actors, such as North Korea – seizing control of confidential data, encrypting it, locking out bona fide users and

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