Would You Know How To Respond If Your Organisation Were Hit By A Ransomware Attack? According To Jonathan Benton, Chief Executive And Founder Of Isanctuary, Many Businesses, Both Small And Large, Are Not Nearly As Prepared As They Should Be. Jonathan Benton, a former senior detective with more than 27 years’ experience, including as a hostage and crisis negotiator, now leads iSanctuary, a UK based firm that conducts technology-enabled crossborder investigations, tracks hidden assets, and specialises in crisis management. Drawing on his experience dealing with cybercriminal networks, terrorist organisations and state actors, in this article Jonathan underlines the urgent need for businesses to plan ahead. THE SCALE OF THE THREAT The financial and reputational cost of a ransomware attack is staggering. Marks & Spencer, a retail giant in the UK, for example, recently suffered an attack resulting in losses exceeding GBP300 million, almost an entire year’s operating profit. Yet large corporates are not the only targets. Smaller businesses are also at risk precisely because they are seen as less able to withstand or resist demands. Attackers range from individuals operating from their bedrooms to state-backed operations and organised criminal networks. Identifying the nature of the threat is far from straightforward. If you don’t know what threat you face, you don’t know how to prepare for it. HOW RANSOMWARE WORKS While some attacks are triggered instantly through phishing emails or malicious downloads, others involve malware planted within systems, lying dormant until activated. Typically, the attack culminates in a demand sent from an anonymous source, threatening to release stolen data unless payment is made. The decision-making process at this stage is...