Summary: The U.K. government is contemplating a ban on ransomware payments to protect critical industries from cybercriminals. This proposed legislation aims to enhance reporting requirements and educate businesses on responding to ransomware threats, while also acknowledging potential negative impacts on small businesses. The initiative reflects a broader strategy to reduce financial incentives for cybercriminals and improve national cybersecurity.
Threat Actor: Cybercriminals | cybercriminals
Victim: U.K. public sector and critical national infrastructure | U.K. public sector and critical national infrastructure
Keypoints :
- The proposed ban would apply to all public sector bodies and critical national infrastructure, including the NHS and schools.
- Organisations would be required to report ransomware attacks within 72 hours to aid law enforcement efforts.
- Concerns have been raised about the potential disproportionate impact on small businesses that may struggle to comply with the new regulations.
Source: https://www.techrepublic.com/article/uk-banning-ransomware-payments/