No More Ransomware’ Initiative Reduces Ransom Profits By £850m

BACKGROUND:

No More Ransom, a public-private initiative launched by law enforcement authorities and cybersecurity companies from across Europe in 2016, has helped more than six million people to recover their files in the aftermath of ransomware attacks and prevented criminals from earning almost £850 million through ransomware attacks. No More Ransom now counts police forces and law enforcement agencies from all over the world, including Interpol, Eurojust, and the NCA, as its associate and supporting partners.

Experts Comments

July 27, 2021
Jake Moore
Cybersecurity Specialist
ESET

No More Ransom is possibly the best post-attack piece of armour in the industry. When companies are cornered, there can far too often only be one financially crippling way out. Gaining hope with this tool helps, but by no means should it be treated as insurance.

The initiative has clearly damaged the salaries of some cybercriminal gangs, but the best way to reduce their ransom demands is to more proactively protect systems before the attack takes place. The success of this tool has helped those

.....Read More

No More Ransom is possibly the best post-attack piece of armour in the industry. When companies are cornered, there can far too often only be one financially crippling way out. Gaining hope with this tool helps, but by no means should it be treated as insurance.

The initiative has clearly damaged the salaries of some cybercriminal gangs, but the best way to reduce their ransom demands is to more proactively protect systems before the attack takes place. The success of this tool has helped those in need but we cannot ever rely on reactive tools. We need to up education, awareness and backup processes to really have a chance at eradicating this new wave of ransomware.

  Read Less

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