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The government is getting fed up with ransomware payments fueling endless cycle of cyberattacks

Posted on October 19, 2024 by Dissent

Barbara Booth reports:

With ransomware attacks surging and 2024 on track to be one of the worst years on record, U.S. officials are seeking ways to counter the threat, in some cases, urging a new approach to ransom payments.

Ann Neuberger, U.S. deputy national security adviser for cyber and emerging technologies, wrote in a recent Financial Times opinion piece, that insurance policies — especially those covering ransomware payment reimbursements — are fueling the very same criminal ecosystems they seek to mitigate. “This is a troubling practice that must end,” she wrote, advocating for stricter cybersecurity requirements as a condition for coverage to discourage ransom payments.

Zeroing in on cyber insurance as a key area for reform comes as the U.S. government scrambles to find ways to disrupt ransomware networks.

Read more at CNBC.

Category: Commentaries and AnalysesMalware

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