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Digital hostages: Leveraging ransomware attacks in cyberspace

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  • Wade, Megan

Abstract

Global institutions face costly infrastructure disruption from cyberthreats such as ransomware attacks. The global threat of ransomware attacks has continued to increase over time. Although it is important to conduct a cost-benefit evaluation and to weigh the risks prior to engaging, a new emerging option of dealing with ransomware attacks should be considered. I outline an interdisciplinary approach to cybernegotiation combining features of online dispute resolution and terrorist hostage theory. In this novel cyber-based dispute system design, the Wade and seek method is the application of traditional hostage negotiation theory used to help businesses mitigate the costs of ransomware attacks.

Suggested Citation

  • Wade, Megan, 2021. "Digital hostages: Leveraging ransomware attacks in cyberspace," Business Horizons, Elsevier, vol. 64(6), pages 787-797.
    • Handle: RePEc:eee:bushor:v:64:y:2021:i:6:p:787-797
    DOI: 10.1016/j.bushor.2021.07.014
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    References listed on IDEAS

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    1. Martin Eling & Werner Schnell, 2016. "What do we know about cyber risk and cyber risk insurance?," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 17(5), pages 474-491, November.
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    3. Gregory Falco & Alicia Noriega & Lawrence Susskind, 2019. "Cyber negotiation: a cyber risk management approach to defend urban critical infrastructure from cyberattacks," Journal of Cyber Policy, Taylor & Francis Journals, vol. 4(1), pages 90-116, January.
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