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A large law firm says it is increasingly advising clients on ransom ware attacks, and believes an increasing number are paying up, despite official government advice not to.
A ransomware attack is when malware is put on a computer or device that usually encrypts files - making them unusable - and then a ransom payment is demanded to restore access. It can be hugely damagin g for a business , with other risks include the information being taken and sold on the dark web.
A 2024 survey by the international IT company Cloudfare surveyed New Zealand organisations of different sizes and found of the 150 that responded, 44 per cent had paid a ransom in the past two years, despite 89 per cent of them pledging not to. Simpson Grierson cites the survey in its latest Cyber Risks report, and its head of cybersecurity and data disputes, Jania (Jane --ya ) Baigent says her firm is increasingly getting requests from businesses for advice on how to deal with ransomware attacks.
She says while the Government says not to pay ransoms and has banned any of its agencies and departments from doing so, businesses and their directors need to be aware of the risks they face when holding data.
