Your Company’s Data Is for Sale on the Dark Web. Should You Buy It Back?
Discovering that your company’s sensitive data has found its way to the dark web is an alarming reality that many businesses today face. It’s a scenario reminiscent of a high-stakes thriller—only the threat is quite real, and the decisions you make can have far-reaching consequences.
For those unfamiliar with the term, the dark web is a part of the internet that is not indexed by traditional search engines and is accessible only through specialized anonymity-providing tools like Tor. It’s a haven for cybercriminals to sell stolen data, among other illicit activities. When corporate data—be it employee information, customer databases, or proprietary secrets—gets listed for sale, the nettlesome question that arises is whether to buy it back. This decision is fraught with ethical, legal, and practical considerations.
At the forefront of navigating these treacherous waters is Brenda R. Sharton, a litigation partner and the global Chair of Dechert LLP’s top-ranked Privacy & Cybersecurity practice. Sharton is not just an attorney; she’s an internationally recognized authority in the field, having directed over a thousand data breach investigations. Her expertise encompasses dealing with threats posed by various actors, including nation states, organized crime rings, and even insiders.
Sharton’s accolades are testament to her prowess. Chambers-ranked and a Legal 500 “Leading Lawyer” in Cyber Law/Breach response, her exceptional skills in this arena were further acknowledged when she received Law360’s MVP award in Cybersecurity and Privacy in 2022. A seasoned first chair trial lawyer, Sharton has been at the helm of pioneering privacy litigation and has expertly handled regulatory enforcement matters across the globe.
Buying Back Your Data: A Double-Edged Sword
The idea of buying back stolen data from cybercriminals is contentious. On one hand, it might seem like a straightforward way to mitigate damage—retrieve the data and prevent its misuse. However, the reality is far more complex.
Engaging with cybercriminals presents significant risks. For starters, there’s no guarantee that paying a ransom or buying back the data will indeed secure its return or prevent it from being sold to others. Cybercriminals are, by their very nature, untrustworthy. Moreover, paying them can embolden and fund further illicit activities, creating a vicious cycle.
Firms like Dechert LLP, under the guidance of experts like Sharton, advise their clients by marrying legal acumen with a deep understanding of cybersecurity. The aim is to navigate these murky waters carefully, weighing the potential benefits against the considerable risks.
Alternatives to Consider
Before jumping into negotiations with cybercriminals, it’s critical to explore all other avenues. Involve law enforcement agencies early in the process, as they have tools and collaborations that can sometimes help retrieve stolen data without the need to engage directly with the culprits. Investing in robust cybersecurity measures can also preempt future breaches, making your data less vulnerable to theft.
Furthermore, transparency with stakeholders is crucial. If customer data is compromised, informing them promptly and taking steps to protect them from potential fallout is not just ethical; in many jurisdictions, it’s a legal requirement.
Final Thoughts
The decision to buy back stolen data from the dark web is not one to be taken lightly. It involves a complex interplay of legal, ethical, and security considerations. Experts like Brenda R. Sharton play an instrumental role in guiding businesses through these challenging situations.
Ultimately, the emphasis should be on prevention. Investing in comprehensive cybersecurity practices, staff training, and staying abreast of the latest threats can significantly reduce the likelihood of your data ending up for sale on the dark web. If the worst happens, having a seasoned legal and cybersecurity team in place can make all the difference in effectively managing the crisis and mitigating its impact.
The journey through cyberspace’s darker corridors is fraught with peril, but with the right preparation and expertise, businesses can navigate these challenges and safeguard their most valuable assets.
