News

US Law Enforcement Seeks Mandatory Reports on Ransomware Attacks, Payments

By Valentina Pasquali

U.S. officials urged federal lawmakers to require American companies to report when they have suffered a significant cyberattack, identify whether and which type of ransomware was used and describe any payments they make to unlock their IT systems, including in cryptocurrency. Congress should, however, refrain from imposing a wholesale prohibition on ransomware payments, which, instead of stopping the practice, would expose companies that still choose to make the payoff to blackmail for keeping the transaction secret, federal investigators and prosecutors told the Senate Judiciary Committee on Tuesday. "Banning the payments would further push any reporting to law enforcement into obscurity...

TO READ THE FULL STORY