Hi Jim,
Very nice text from you and you seem to offer good hints on how to stop it long term.
The reality is that USA is going in the direct opposing direction that you express.
The payment to ransomware gangs is now tax-deductible.
"Extorted by ransomware gangs? The payments may be tax-deductible".
Published June 21st.
Again from cbsnews. Not sure if we can rely on them to report accurate news?
Jean
The payment to ransomware gangs is now tax-deductible.
It’s not new. In the US, losses due to theft have been at least partly deductible for a very long time. By IRS definitions (https://www.irs.gov/publications/p547), blackmail and extortion both qualify as theft, and it’s fairly safe to say those apply to all ransomware attacks.
Everything can be broken, and nothing will ever be 100% secure. If you strive to make sure the cost to break in is massively larger than the value of what could be extracted, you’ll generally be ahead of the game.
I agree with you that 100% secure is not achievable.
The goal is to make your business very difficult to hack that it is no longer economically viable for terrorists to attack it in the first place.
That’s the best insurance you can give to your business.
Jean