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 too. Two experts explain how companies should negotiate with extortionists - and how they can better protect themselves.
Zug, ransomware – a malicious software used for extortion – has become one of the biggest business risks, not just for large corporations but also for German SMEs. According to the Federal Ministry of the Interior, there were 1,041 reported ransomware attacks in 2025, a 10% increase from the previous year. In a ransomware attack, criminals encrypt entire IT systems and extort a ransom – typically in the form of Bitcoin and often accompanied by the threat to publish stolen data beforehand.
So, how can businesses defend themselves? How can they regain control in such a situation? And which mistakes are particularly costly in the first hours? Krisis negotiators Michael Sjøberg, formerly specializing in taking hostages for the Danish military, and Peter Skovbo, who leads the Swiss advisory company Delta Crisis founded by Sjøberg, explain in an interview.
Mr. Sjøberg, when a company calls you during a cyber attack – what has typically already gone wrong?
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- Ransomware: "The worst mistake is a CEO who asks: How do I pay?" handelsblatt.com
