Ransomware: "The worst mistake is a CEO who asks: How do I pay?"
Cyber attacks are crippling entire production lines and increasingly affecting medium-sized businesses. Two experts explain how companies should negotiate with blackmailers - and how they can better protect themselves.
Zug, Switzerland – In the face of increasing cyber threats, ransomware has emerged as a significant business risk, particularly for German SMEs. According to the Federal Ministry of the Interior, 1041 ransomware attacks were reported in 2025, marking a 10% increase from the previous year. In such attacks, cybercriminals encrypt entire IT systems and demand ransom payments, often in the form of Bitcoin, with the threat of publishing stolen data.
Companies seeking to defend against ransomware and regain control in a crisis often ask the wrong questions during the initial hours of an attack, according to crisis negotiators Michael Sjøberg and Peter Skovbo. Sjøberg, formerly part of the Danish military specializing in hostage situations, and Skovbo, CEO of Swiss consultancy Delta Crisis, discuss the critical mistakes that can lead to devastating consequences.
"So often, the first instinct is to ask, 'How much do I have to pay?'" Sjøberg explains. "That's typically where the problem lies. The focus should be on containing the attack, preserving evidence, and understanding the scope of the breach before any payment is considered." Skovbo adds, "Rushing into payment without a clear strategy can embolden the attackers and lead to further demands."
The interview reveals that a well-thought-out crisis management plan, combined with proactive cybersecurity measures, can make a significant difference. Both experts emphasize the importance of immediate action, clear communication, and a strategic approach to mitigate the impact of ransomware attacks.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written; read the original for the full account.
