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As cybersecurity breaches became headlines in 2022, ransomware attacks became rampant. As a solution, the government plans to make ransom payments illegal. However, many people say it would cause a backlash.
Cyber Security Minister Clare O’Neil announced the possibility of legalising ransomware bans. Australia is the Chair of the International Counter Ransomware Task Force (ICRTF) that began its operations on 23 January 2023. The task force aims to promote cross-border resilience and disrupt malicious cyber actors.
Even though O’Neil’s purpose of making ransomware payments illegal is a good intention, it could embolden them further. “What does not kill you, makes you stronger,” as the song goes.
Additionally, the decision to outlaw ransomware will rub salt in the wound of victim organisations. They are stuck between saving their precious data and systems and the punishment of the law. Moreover, longer downtimes in their operations would mean increased costs.
Another possible outcome is that it will change the focus of cyber attackers from massive organisations to small and vulnerable ones. In that sense, they will go for quantity, making cyberattacks more rampant in the country.
Due to their limited financial and technological resources, small and medium-sized firms are more susceptible to the detrimental effects of law than large corporations. Smaller organisations are less likely to have the necessary defences in place and the funds necessary to recover after an attack. Criminals might also switch to other, potentially more lucrative types of cybercrime, like data theft or distributed denial-of-service (DDoS) attacks.
“Increased vigilance and regulation of cryptocurrency transactions and exchanges linked to illicit activity, including ransomware, is almost certainly a key objective for all governments taking a serious approach to tackling the spread of ransomware,” mentioned SecAlliance in the blog.
Before implementing illegalising ransomware payments, the government along with the concerned agency should weigh the risks, opportunities, benefits, and adverse outcomes it may bring to the table. Note that there is no one size fits all solution for every cyber victim’s case. These scenarios should be evaluated case-by-case to identify the best and safest solution for the organisation, its employees, and its clients.
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