Ransomware is Funding Russian Aggression


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Ransomware attacks and payments are increasing, with most revenue going to Russian attackers. It is time to revisit outlawing Ransomware payments.

Some stats to hammer the situation home:

Sophos ransomware report indicates:

- Ransom attacks are more frequent (66% of surveyed orgs indicated they were hit with ransomware in 2021 versus only 37% in 2020)

- Payments are higher (11% paid over $1 million versus only 4% in 2020), and more victims are paying the ransom (46% paid).

Now consider that according to ChainAnalysis about 74% of ransomware revenue in 2021 are affiliated with Russia!

Yes, companies are inadvertently funding activities of Russia with ransomware! It is time we act. Sadly, we need regulation to force organizations to not fund the cybercriminals and nation state enemies!

It is time we outlaw ransomware payments, thereby creating a forcing function for better cybersecurity prevention and prohibiting funding of aggressive acts like the Russia war against Ukraine.

Yes, I know this idea is unpopular, but this is a hill I am willing to defend. Let the flaming begin.

Sources:

https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-russia-ransomware-money-laundering

https://news.sophos.com/en-us/2022/04/27/the-state-of-ransomware-2022

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Matthew Rosenquist
Matthew Rosenquist

Cybersecurity Strategist specializing in the evolution of threats, opportunities, and risks in pursuit of optimal security for our digital world.


Cybersecurity Tomorrow
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