Become a Member
Find a Member
California MBA California MBA
  • About
    • About Us
    • Who We Are
    • Contact Us
  • Events
  • Membership
    • About Membership
    • Advocacy
    • Education
      • Connect Podcast
      • Future Leaders Program
    • Committees
      • Conference Committees
      • Diversity, Equity & Inclusion Committee
      • Legal Issues Committee
      • Legislative Committee
      • Membership Committee
      • MQAC Committee
  • CAMPAC
  • My Account
Find a Member
Become a Member
California MBA

cyber security

Home / cyber security
11Aug

Ransomware with Terms of Service

August 11, 2020 CyberCecurity Commercial, Residential
Mitch Tanenbaum, Partner & CISO, CyberCecurity

So you thought only companies like Microsoft and Google had terms of service. Apparently that is not the case.

I keep talking about the horror that ransomware 2.0 is with hackers stealing the data before they encrypt it and threatening to publish the data if you don’t pay.

That means backups alone are not sufficient to protect you.

Now one of the first players to use ransomware 2.0 against victims is upping the ante by creating terms of service like a legitimate software provider.

Here are their terms:

  • If you do not respond to their attack within 3 days, they will publish that you have been hacked on their web site. They say that if you don’t start communicating within 3 days, you only have yourself to blame.
  • They say that negotiating means dialog and finding the “best” solution for both parties. If the “client” is too shy, scared or just can’t negotiate, that is, they say, exclusively the client’s problem.
  • They say that if you can’t figure out how much it is going to cost you to recover without them, they will help you. It will cost you over 10 million dollars. Not sure how they came up that number, but there you go.
Read more
Read more

2025 President’s Council

AmeriHome-Mortgage-WAB
Consolidated Analytics, Inc
FundingShield crop
RocketMortgage
GuildMortgage
weinerbrodsky
WA_NewLogo@2x
CMBA_white_300x75@2x
(916) 446-7100
info@cmba.com

Office Hours

Mon-Fri

9:00 A.M. – 5:00 P.M.

Sat-Sun

Closed

Corporate Office

3013 Douglas Boulevard, Suite 132,

Roseville, CA 95661

© 2025 California Mortgage Bankers Association (California MBA)

Privacy Policy | Terms Of Use | CAMPAC Donation