Would Making Ransom Payments Illegal Result in Fewer Attacks?

The article argues that making ransom payments illegal is neither realistic nor practical, since a blanket ban would likely drive payments underground, reduce incident reporting, and disproportionately harm small and medium-sized businesses. It outlines unintended consequences related to cyber insurance, recommends a multifaceted approach modeled on the banking industry (standards, mitigations, and accountability), and calls for stronger law enforcement collaboration—citing the LockBit takedown as evidence that coordinated policing and proactive defenses can be effective alternatives to an outright ban.