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White House official says insurance companies must stop funding ransomware payments, but that’s not an official directive

Posted on October 4, 2024 by Dissent

Alexander Martin reports:

Insurance companies must stop issuing policies that incentivize making extortion payments in ransomware attacks, a senior White House official said on Friday.

The call for the practice to end, which was made without any indication the White House was formally proposing to ban the practice, follows the fourth annual International Counter Ransomware Initiative (CRI) summit in the United States this week, where the 68 members of the CRI discussed tackling the problem.

Writing an opinion piece in the Financial Times newspaper, Anne Neuberger, the U.S. deputy national security adviser for cyber and emerging technologies, warned that ransomware was “wreaking havoc around the world.”

Read more at The Record.

 

Category: Commentaries and AnalysesMalware

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