Issue increasingly on the radar of boards – and regulators
An estimated $1.1 bn was paid out in ransoms to hackers last year, according to a report from crypto-tracing firm Chainalysis, which came to the figure by assessing crypto payments – hackers’ preferred option due to the anonymity provided. This number is hard to quantify, though, as many companies do not go public when they’ve been hacked and even fewer publicize the amounts paid out to get their data restored and their systems back online.
Last summer the SEC adopted new rules requiring
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