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Ransomware gangs are running riot – paying them off doesn't help

By Jan Lemnitzer, Lecturer, Department of Digitalization, Copenhagen Business School
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In the past five years, ransomware attacks have evolved from rare misfortunes into common and disruptive threats. Hijacking the IT systems of organisations and forcing them to pay a ransom in order to reclaim them, cybercriminals are freely extorting millions of pounds from companies – and they’re enjoying a remarkably low risk of arrest as they do it.

At the moment, there is no coordinated response to ransomware attacks, despite their ever-increasing prevalence and severity. Instead, states’ intelligence services respond to cybercriminals on an ad-hoc basis, while cyber-insurance firms…


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