The UK National Cybersecurity Centre (NCSC) and three UK insurance associations have collaborated on a joint initiative to address the number of ransomware payments made by UK victims.
The project, which included the Association of British Insurers (ABI), the British Insurance Brokers’ Association (BIBA), and the International Underwriting Association (IUA), has resulted in new best practice guidance outlining steps for considering payment in ransomware incidents. The guidance, developed from an NCSC-sponsored research by the Royal United Services Institute (RUSI) in 2023, aims to prevent impulsive reactions to ransomware incidents and includes considerations such as assessing business impact, reporting protocols, and accessing sources of support.
In a related article, the NCSC published a blog article on ransomware attacks. The article outlines current data theft, extortion tactics, and emerging trends cybercriminals use.
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