Digital hostages: Leveraging ransomware attacks in cyberspace

Megan Wade

Business Horizons, 2021, vol. 64, issue 6, 787-797

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.

Keywords: Ransomware; Cybersecurity; Hostage negotiation; Dispute system design; Cryptocurrency (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:64:y:2021:i:6:p:787-797

DOI: 10.1016/j.bushor.2021.07.014

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