In a ransomware attack, a company is hit with malware that renders its data inaccessible. The attacker promises to provide a decryption key only after a payment, usually in bitcoin, is made. Demands range from $570 (for an attack against the Community of Christ Church, according to KATU news) to $3.6 million (the initial demand made to Hollywood Presbyterian Medical Center, per Tech Times). According to the Los Angeles Times, the hospital ultimately paid 40 bitcoin, about $17,000, to restore normal operations in the face of patient need.
Other organizations facing ransomware demands have chosen not to pay the ransom, in some cases risking partial or total shutdown of critical systems. The Federal Bureau of Investigation explicitly discourages the paying of ransom, stating that doing so may embolden hackers, some of whom may be linked to terrorism. The Federal Financial Institutions Examination Council offers no specific direction on whether a ransom should be paid, cautioning only that that not all who pay are given the decryption key. Everyone recognizes a serious problem, with no clear solution provided. When an attack hits, businesses are left to make the right judgment call in real time for their customers, employees and shareholders.
