Victims of ransomware address MPs and Peers
The representatives of two prominent victims of ransomware – a method of cyber extortion – are due to answer questions from MPs and Peers at a public evidence session looking into this fast-growing crime. Alongside an expert in cyber insurance, these witnesses will answer MPs and Peers’ questions about the victim experience, sources of support for victims, and the cyber insurance industry.
Ransomware is a type of malicious software used by criminals to freeze or steal data, with the perpetrator then demanding a ransom payment before unlocking or returning the data. A cyber threat intelligence organisation, JUMPSEC, estimated in 2022 that less than 2% of ransomware victims speak out in meaningful detail about attacks – often because they fear reputational damage to their organisations.
The victims appearing before the Committee next week represent Redcar & Cleveland Borough Council and the Irish public health provider, the Health Service Executive. Both experienced major ransomware attacks, in 2020 and 2021 respectively. They will be asked to describe their experiences of the attacks, the way the responded, and what more could be done to prevent further attacks.
The session will also explore the current state of the cyber insurance industry and what more could be done to widen availability of insurance cover for ransomware attacks.