MGM Resorts refused to pay recent ransomware demands

The FBI actively encourages victims of ransomware attacks to refuse to comply with the demands of the threat actors, despite the US government's claims that it does not negotiate with terrorists.

It appears that MGM followed that advice, but many other businesses that experience ransomware attacks, such as Caesars, do not. As a result, the bad guys become more bold because they think their chances of getting paid are slim. As a result, these breaches are happening more frequently.

MGM rebuilt its cybersecurity systems and strengthened associated defenses in the wake of the attack. Although that is a positive step, some investors might argue that MGM should have cooperated with the hackers and paid them to leave because the damage had already been done.

 

[MiaLuca]

Despite the FBI's efforts to dissuade companies from paying ransoms in order to deter the actions of ransomware perpetrators, the decision to comply with their demands remains challenging for businesses that have fallen victim. Although paying the ransom may offer temporary respite, it has the potential to empower hackers and contribute to the financing of criminal endeavors.