Page 91 - Cyber Defense eMagazine Annual RSA Edition for 2024

Addressing The Root Causes of

Ransomware

A Call for Improved Cyber Hygiene

By Paul Hawkins, CISO, CipherStash

Ransomware, a nefarious cybersecurity business model, thrives on holding valuable data hostage for
profit. Victims are coerced into paying ransoms under the threat of data exposure or access denial.
However, the efficacy of paying such ransoms is dubious, often resulting in no data restoration and
leaving victims vulnerable to future threats. In 2023, ransomware accounted for approximately 10% of
security incidents, according to the Australian Cyber Security Centre (ACSC), with notable global impacts
across various industries including healthcare, food distribution, and gaming.

In response, some governments have proposed banning ransom payments, hoping to diminish the
incentive for cybercriminals. However, merely treating the symptoms by prohibiting payments fails to
address the root causes of ransomware attacks. To use a healthcare example this is like treating heart
disease only with a triple bypass, but ignoring the things that lead to the condition. Exercise, healthy
eating and minimizing alcohol consumption are all preventative measures. We should think of
ransomware the same way. There needs to be a way to respond, but we should remove the need to
respond by focusing on prevention.

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