Honor Among Thieves: Anja Shortland and Ransomware

Send us Fan MailA talk with Dr Anya Shortland about the economics of ransomware and the gray-zone institutions that let extortion markets function when nobody can truly enforce trust. We dig into how cyber insurance quietly becomes a form of governance, why data leaks change the game, and what national security risks emerge as everything gets connected. • criminal markets that sit between legal firms and underworld gangs • insurance as governance through protocols, repeat play, and incident response packages • why victims amplify risk when they throw money at crises • the origin story of early ransomware and the transaction costs that made it fail • step-by-step ransomware mechanics from phishing to exfiltration to encryption • how gangs price ransoms by reading cash flow and insurance certificates • leak sites, privacy regulation, and third-party liability as bargaining leverage • why cyber insurance is fragmented and slow to enforce security standards • deductibles, coverage caps, and market hardening that push better cybersecurity • AI-enabled phishing and the asymmetric arms race between attackers and defenders • state-linked ransomware, impunity jurisdictions, and critical infrastructure threats • efficiency versus resilience in smart cities and the Internet of Things Anja Shortland at Kings College LondonShortland's book, Dark Screens:  https://www.amazon.com/Dark-Screens-Hackers-Shadowy-Ransomware/dp/1541705750Shortland's first TAITC episode: "Deals with shadows"Links mentioned in podcast:Alex Danco's pirate puzzlePete Leeson's book, The Invisible HookDavid Deutsch's book, The Beginning of InfinityIf you have questions or comments, or want to suggest a future topic, email the show at [email protected] !You can follow Mike Munger on Twitter at @mungowitz