Ransomware has become a serious issue for businesses across the United States with a 147 percent jump in attacks over the last two years. Businesses have adapted by adding cyber insurance policies to cover them - meaning helping them pay a ransom and get back to work. With the problem growing so fast, the Treasury Department is making a significant change, now threatening to fine companies that pay the ransom. It leaves businesses in a no-win situation, either paying a ransom and facing a government sanction or losing their data altogether.
In this episode of CYBER24, presented by VLCM, we talk with our panel of experts about the U.S. government's new approach, how it will impact business and why it makes it more important than ever to avoid falling victim to ransomware.
- Matt Sorensen, Silicon Valley Bank
- Dan Schuyler, VLCM
Listen below or go to the podcast site.