Never pay the ransom — a cybersecurity CEO explains why

Steve Cagle is the CEO of Clearwater Compliance, which is a cybersecurity firm focused on the healthcare industry. Basically, they lock down hospital computer systems, which contain a huge amount of personal data, and are so mission critical that ransomware attackers know that hospitals are more likely to just pay up. If the cryptocurrency explosion has accomplished anything, it’s making ransomware attacks easier and more lucrative for bad guys. Steve told me there’s so much personal information in a hospital system that a single patient’s record can sell for a huge premium over somthing like a credit card number. And we talked about amount of regulation needed to secure that data and that some insurance providers require hospitals to have a minimum level of security, or they won't be covered. It's a fascinating one.

Links: Cyber Security Week 2022 Penetration test Cyberattack delays patient care at major US hospital chain Average Healthcare Data Breach Costs Surpass $10M, IBM Finds

Transcript: https://www.theverge.com/e/23175031

Credits: Decoder is a production of The Verge, and part of the Vox Media Podcast Network. It was produced by Creighton DeSimone and Jackie McDermott. Research by Liz Lian and it was edited by Jackson Bierfeldt. The Decoder music is by Breakmaster Cylinder. Our Sr Audio Director is Andrew Marino and our Executive Producer is Eleanor Donovan. Learn more about your ad choices. Visit podcastchoices.com/adchoices