30% of Security Professionals Would Negotiate with Cybercriminals for the Return of Their Data

RESTON, Va., March 31, 2015 /PRNewswire/ -- ThreatTrack Security – a leader in cyber threat prevention solutions that substantially change how organizations respond to cyberattacks – today published a study of enterprise security professionals' views on dealing with cybercrime extortion. Research revealed that nearly 1 in 3 security professionals recommend negotiating with cybercriminals for the return of stolen data or the restoration of encrypted files.

Read the report Negotiating with Cybercriminals here: http://www.threattracksecurity.com/resources/white-papers/mid-market-cyber-extortion-report.aspx

While 70% of respondents overall did not support negotiating, 86% of security professionals believed their peers at other organizations have brokered deals with cybercriminals. The study also found that firsthand experience with cybercrime extortion clearly shaped opinions. Nearly 40% of security professionals said they are employed at an organization that has been targeted by cybercrime extortion, and 55% of them are willing to negotiate.

"ThreatTrack research reveals a surprising number of security pros would concede to cybercriminal demands to avoid the consequences of data compromise, loss or misappropriation," said ThreatTrack Senior Vice President Stuart Itkin. "Whether data is stolen by sophisticated Advanced Persistent Threats (APTs) or targeted attacks, or lost due to ransomware infection, enterprises need to reevaluate their cybersecurity strategies to incorporate the latest advanced threat defenses and become obsessive about backing up their data. Rapid detection and elimination of threats, and the ability to restore encrypted data, will neutralize the incentives that are driving cybercrime extortion and help ensure security professionals will not have to face this difficult choice."

Key findings from the study include:

• Security professionals within the healthcare and financial services sectors were least likely to recommend negotiating with cyber-extortionists with 92% and 80%, respectively, saying "No"
• 23% said companies should set aside funds for negotiating with cybercriminals who steal, encrypt or threaten to sell their data
  • 43% of respondents in organizations already targeted by cybercrime extortion agreed
  • 22% of all respondents said "Depends on the data" that is at stake
• Asked what types of data for which they would be willing to negotiate with cybercriminals:
  • 50% said they would never negotiate
  • 37% said Employee Data (social security numbers, salaries, addresses, etc.)
  • 36% said Customer Data (credit card number, passwords, email addresses, etc.)
  • 30% said Intellectual Property (product design, software code, R&D, etc.)
  • 26% said Confidential Executive Communications
  • 22% said Financial Data (earnings reports, M&A activity, etc.)
• 66% are concerned about negative reactions from customers and/or employees whose data was compromised if they learned their organization chose not to negotiate with cybercriminals for its return after a breach was disclosed
• Asked what role the government should play in investigating cybercrime extortion:
  • 44% said the government should be notified immediately and granted complete access to corporate networks to aggressively investigate any cybercrime extortion attempts
  • 38% said the government should establish policies and offer guidance to companies who fall victim to cybercrime extortion
  • 30% said companies should have the option of alerting the government to cybercrime extortion attempts made against them
  • 10% said the government should make it a crime to negotiate with cybercriminals
• 59% say cybersecurity insurance firms should offer policies that provide companies with a third party to negotiate on their behalf for the return of their data
• 75% believe they are a likely target for cybercriminals because they believe "all organizations are targets/have valuable data" and/or they have "experienced at least one data breach or attempted breach"
• 30% say they are not a likely target because "Our company does not have a high enough profile" and/or "Our data is not valuable enough to steal"

Study Methodology
This independent, blind survey of 250 security professionals at U.S.-based companies with 500 to 2,500 employees was conducted by Opinion Matters on behalf of ThreatTrack Security in March 2015. For research participants, cybercrime extortion was defined as any demand for "payment or any action or change of behavior on your part in exchange for stolen or encrypted data, including encryption keys for ransomware infections." Read the executive summary report here.

About ThreatTrack Security Inc.
ThreatTrack Security specializes in helping organizations identify and stop Advanced Persistent Threats (APTs), targeted attacks and other sophisticated malware designed to evade the traditional cyber defenses deployed by enterprises and government agencies around the world. With more than 300 employees worldwide and backed by Insight Venture Partners and Bessemer Venture Partners, the company develops advanced cybersecurity solutions that Expose, Analyze and Eliminate the latest malicious threats, including its ThreatSecure advanced threat detection and remediation platform, ThreatAnalyzer malware behavioral analysis sandbox, ThreatIQ real-time threat intelligence service, and VIPRE business antivirus endpoint protection. Learn more at www.ThreatTrackSecurity.com.

Disclaimer
Copyright © 2015 ThreatTrack Security, Inc. All rights reserved. All other trademarks are the property of their respective owners. To the best of our knowledge, all details were correct at the time of publishing; this information is subject to change without notice.

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SOURCE ThreatTrack Security, Inc.

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