Cyber Extortion..What would you do if you were this victim Company?

Today, Times of India has reported a Cyber Extortion attack on the Managing Director of a Company in Hyderabad. Typically in such cases, the data of the Company is hacked and encrypted. The authorized persons who try to access would be confronted with a message to pay a ransom for getting the decryption password. In this particular case, the ransom amount demanded is $1000/-

Refer Article here

Let us pick up this case as a hypothetical case study by assuming that  this Company had obtained Cyber Crime Insurance.  We shall then discuss some of the possible developments.

I request readers to send their views on “If you are the MD who is the victim of the Hyderabad incident, and your company has a Cyber Insurance policy, what would you do now”.

(Of course if you donot have a Cyber Insurance, then you may take a different set of actions since you have no obligations.)

(…To Be continued..on cyberinsurance.org.in )

Naavi

 

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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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