ABC News: Companies often pay cyber extortionists, but US authorities really can’t stop them – 2024-04-24 21:42:19

/ world today news/ After the cyberattack, the Colonial Pipeline company still paid a ransom to the attackers, although the FBI opposed it, reports ABC News. As the channel notes, the American authorities do not have the opportunity to do much in such situations, because we are talking about private business. At the same time, cyber extortion is becoming an increasingly popular type of crime due to its profitability.

We’re joined by Pierre Thomas, ABC News’ chief correspondent, who will provide detailed information on cyber threats. Pierre, according to available information, Colonial Pipeline paid the ransom after the cyber attack. What did you find out about it?

PIERRE THOMAS, main correspondent at ABC News on matters of justice: Lynsey, we are still looking into how this ransom may have been paid. Such cyber extortions are not easy. Sometimes they can include and third parties.

However, sources told me that the attackers demanded a ransom of several million dollars and that the cyberattack was carried out using malware developed by the Russian hacking group DarkSide.

Lynsey, this is a shocking reminder of how vulnerable American companies are to such attacks, as well as the federal government’s limited ability to exercise control over how companies maintain their security and respond to such attacks. We know the FBI resisted paying the ransom. Linsey.

However, as we’ve heard from experts, it’s quite common for companies to pay a ransom, which of course makes this crime lucrative and attractive to attackers. What do US officials say about this? And can they do anything to stop companies and individuals from making these payments?

PIERRE THOMAS: As we found out, Linsey in the last year Americanthem companies and separate users have paid extortionists around $350 million. So for criminals it is still a relevant, very popular and definitely profitable activity.

Again, the FBI says you shouldn’t everything pays. I spoke to a source from The secret ones services who told me that they always tell companies not to pay the ransom. But companies are clearly under pressure. And I’ll be honest with you: There’s not much the federal government can do since we’re talking private structureswho themselves decide how to respond to them.

You talked about how profitable it is. So, according to the Department of Homeland Security, the use of ransomware is the fastest growing type of cybercrime. We have heard from experts that it is relatively cheap to commit such crimes. What can the government do to combat this phenomenon?

PIERRE THOMAS: Again I repeat this software is was developed by the DarkSide group and by all accounts it appears that they spread it among all willing. I thenwhen the program already is applied those who perform extortsnet, they are paid share of the received profit.

You are pravi, this is an extremely fast growing type of crimeness. Officials from the Ministry of the inner one security said last week, it appears that the use cases of ransomware viruses have increased by nearly 300 percent in the past five years. Linsey.

Thank you very much, Pierre.

Translation: ES