Seriously Risky Business Newsletter
May 23, 2024
UK Government To Consider Licensing Ransomware Payments
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Policy & Intelligence
The Record this week reports the UK government will propose a range of strong counter-ransomware measures, including mandatory reporting of all ransomware attacks, a licensing regime for payments and a ransom payment ban for organisations involved in critical national infrastructure.
Multiple sources told The Record these proposals will be published in a public consultation next month. This may lead to new laws, but it is unlikely that they will arrive any time soon.
Despite recent law enforcement success against the LockBit ransomware gang, ransomware crime still causes extensive harm (see Change Healthcare in the US, for example). Governments still need to keep pulling levers to try to reduce the impact of these events.