What it’s really like to negotiate with ransomware attackers

July 13, 2021 – Article posted on CNN

The most critical moment in a ransomware negotiation usually comes long before the victim and the hackers discuss a price. By the time the two sides start talking, the hackers have already gained significant control of a company’s network, most likely securing access to sensitive account data, business contracts, and other key details of an organization. The more they steal, the greater the leverage they have.

CNN sat down with professional ransomware negotiators Tony Cook and Drew Schmitt. Together, working for the cybersecurity firm GuidePoint Security, the two have negotiated dozens of ransomware payments on behalf of organizations held hostage by cybercriminals. Based on that experience, they’ve developed sophisticated profiles of many of the cybercriminal groups they’ve dealt with to help gain an edge at the bargaining table.

“If you know how they typically operate, that helps tip the scales in your favor a little more,” said Schmitt. “There is a fair amount of strategy that happens before you get to the negotiation table.”

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