If you pay a hacker’s ransom, chances are that they’ll come back for more
Action Required: Review firm's cybersecurity incident response plan and data backup procedures.
Security researchers warn that paying ransoms to hackers is ineffective, as it often leads to repeat extortion attempts rather than resolution. For financial advisors, this underscores the critical need for robust cybersecurity and data backup protocols rather than relying on ransom payments as a recovery strategy.
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