Pay or Not Pay: 2 New York State Senators Propose Bills to Ban Ransomware Payments

Two bills were proposed by NY senators banning government agencies and local municipalities from using public money for paying ransomware payments to cybercriminals. These bills are currently in committee. While in committee discussion the committee decides to release or not release the bill to the floor to be voted upon. In 2019, the US Conference of Mayors unanimously adopted a resolution to not pay any more ransom demands to hackers following ransomware infections. Last year’s trend saw many cyber insurance companies willing to negotiate and pay ransomware payments on behalf of their insured and payment of those policies premiums would include the use of public funds. Do you think a blanket no payment strategy is the way to go? Pay or Don’t Pay the Ransom?


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