Ransomware continues to be a leading U.S. financial concern for law enforcement, government, and financial institutions, as losses and drivers for ransomware attacks are expected to grow exponentially in 2023. New data from the U.S. Treasury’s Financial Crimes Enforcement Network reveal that ransomware attacks pose a “significant threat” to all critical infrastructure sectors, particularly financial institutions. As the cybersecurity risks associated with ransomware continue to mount, Javelin Strategy & Research took a unique position to provide a snapshot of the ransomware negotiation landscape by spotlighting five vendors in the ransomware space that specialize in ransomware negotiation. As ransomware negotiation plays a key role in ransomware identification, payment, and settlement, Javelin deems ransomware negotiation to be a key phase of ransomware mitigation. In this market landscape report, Javelin reviews three key components of ransomware negotiation — capacity, culture, and collaboration — and provides advice on how to best choose a ransomware negotiation provider that meets each individual organization’s needs.

Key questions discussed in this report:

• What attributes are essential when it comes to ransomware negotiation?
• Why is having a ransomware negotiation team that speaks the ransomware attacker’s language so beneficial?
• How can handpicking a ransomware negotiation provider mitigate ransomware risks going forward?

Companies Mentioned:

Atlant Security, Blackpanda, Coveware, Cyber Hermes, CyberClan, CyberSecOp, CYPFER, DIGIGUARD, European Cybercrime Centre, Europol, Fast Data Recovery, Financial Crimes Enforcement Network (FinCEN), Flashpoint, Global Resilience Federation (GRF), GroupSense, GuidePoint Security, Kivu Consulting, NEST, Night Lion, Office of Foreign Assets Control (OFAC), Proven Data, U.S. Treasury