An investigation of individual willingness to pay ransomware

Date

2022-04-19

Advisors

Journal Title

Journal ISSN

ISSN

1359-0790

Volume Title

Publisher

Emerald

Type

Article

Peer reviewed

Yes

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.

Description

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.

Keywords

Ransomware, willingness to pay

Citation

Cartwright, A., Cartwright, E., Xue, L. and Hernandez-Castro, J. (2022) An investigation of individual willingness to pay ransomware. Journal of Financial Crime,

Rights

Research Institute

Institute for Applied Economics and Social Value (IAESV)