The Alvarez Technology Group Helps You to Understand Ransomware Payments
On October 1, 2020, the United States Treasury changed the way that ransomware payments need to be made. Prior to this ruling, you could make a ransomware payment on your own, ultimately paying the ransom to hackers or hijackers who may have taken over your website. However, due to the new changes, the process is not so easy any longer. The Alvarez Technology Group wants to help you understand what changes have been made, why the changes were made, and how to go about getting a hijacked website or account back.
Why Did the United States Treasury Step In and Change the Process for Ransomware Payments?
Many of the people and groups that send out ransomware are hoping to make money by holding your website or accounts hostage. They will return these accounts to you if you pay the ransom that they are demanding. Unfortunately, in many cases, the money collected is being used by criminals or terrorists who may pose a risk to national security. The United States Treasury had to step in so that they can monitor who the money is being paid to, and ultimately give you the o.k. to pay the money. If they deem the money is going to a terrorist operation, they may deny your request to pay the ransom to get your website back.
What Happens If You Pay Ransom Without Approval From the United States Treasury?
If you pay the ransom without getting approval from the United States Treasury, both you, your company, and anyone who may have helped to pay the ransom can be held civilly and criminally liable if the money goes to organizations that harm individuals or break the law. This can be a huge risk to your business and to your personal finances, so you should never attempt to circumvent the new rules and try to pay ransom to get your website back.
What Recourse do You Have for Getting a Hijacked Website or Account Back?
Unfortunately, you do not have a lot of recourse if your website is hijacked. Ultimately, you now have to wait for the U.S. Treasury Department to conduct an investigation into where the ransom would be going. This can take weeks or months, and in the meantime, you won’t have access to your website unless the hijackers give it back, which is pretty unheard of. If the U.S. Treasury Department finds that criminals or terrorists are involved in the ransomware, and they deny your request to pay the ransom, you do not have any recourse. As such, preventing ransomware is the best way to prevent being in this situation and potentially losing your website.
Here at Alvarez Technology Group, we can help you secure your website and protect against ransomware attacks and website hijacking attempts. Prevention is far easier than having to wait and work with the United States Treasury Department in determining if you can get your website back. If you are looking to have your webpage or accounts secured, reach out to us, and let’s work to protect you from ransomware attacks.
- 1 The Alvarez Technology Group Helps You to Understand Ransomware Payments