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An investigation of individual willingness to pay ransomware.
- Source :
- Journal of Financial Crime; 2023, Vol. 30 Issue 3, p728-741, 14p
- Publication Year :
- 2023
-
Abstract
- Purpose: Ransomware is a relatively new form of financial extortion that is proving a major cyber-security threat to individuals and organisations. This study aims to investigate factors that may influence an individual's willingness to engage in a ransom payment. Design/methodology/approach: This study ran a large survey (n = 1,798) on a representative sample of the UK population. This study elicited willingness to pay (WTP) ransomware and also reasons for not wanting to pay a ransom to criminals. This study then used non-parametric tests and regression analysis to identify factors that influence WTP. Findings: This study finds that women and younger age groups are significantly more willing to pay a ransom, as are those who store photos. There is a strong positive relationship between concern for data breach and WTP a ransom. Originality/value: To the best of the authors' knowledge, this is the first large scale study to look at WTP ransomware. This study identifies a range of factors that can help inform law enforcement to target advice about ransomware attacks. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 13590790
- Volume :
- 30
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Journal of Financial Crime
- Publication Type :
- Academic Journal
- Accession number :
- 163113832
- Full Text :
- https://doi.org/10.1108/JFC-02-2022-0055