Saturday, May 28, 2022
No Result
View All Result
Money Secrets Center
  • Home
  • Latest News
  • Privacy Policy
  • Whitelisting
Money Secrets Center
  • Home
  • Latest News
  • Privacy Policy
  • Whitelisting
No Result
View All Result
Plugin Install : Cart Icon need WooCommerce plugin to be installed.
Money Secrets Center
No Result
View All Result

: Congress may ban ransomware payments, Senate Homeland Security chairman says

by
October 26, 2021
in Latest News
0 0
0
Home Latest News

Lawmakers have not ruled out legislation that could ban private companies from making ransomware payments, Sen. Gary Peters of Michigan, chairman of the Senate Homeland Security Committee, said Tuesday.

“It’s a possibility that we ban [ransomware payments],” the Michigan Democrat said during an Washington Post Live event. “I’m not closing the door on that.”

Peters pointed to a $100 million Cyber Response and Recovery Fund, included in the bipartisan infrastructure bill passed by the Senate over the summer, as a step toward reducing the number of companies who feel compelled to make ransomware payments.

“We have to right now be focused on working with companies to understand that there are alternatives to paying a ransom, particularly if they get assistance from the federal government and look at the federal government as a partner,” Peters said.

The FBI already recommends that companies do not pay ransoms to criminals who hack their computer networks, but private entities are free to ignore this advice under current law.

The event comes amid news that the Russia-linked hackers behind the massive 2020 SolarWinds breach of hundreds of major corporations and U.S. government agencies have stepped up their efforts to compromise American institutions.

Tom Burt, corporate vice president for customer security and trust at Microsoft
MSFT,
+0.64%
,
published a blog post Monday reporting that the “Russian nation-state actor Nobelium,” which was responsible for the SolarWinds
SWI,
-0.98%

attack, attacked 609 of its customers more than 22,000 times between July 1 and Oct. 19 of this year, more than in the previous three years combined.

“This recent activity is another indicator that Russia is trying to gain long-term, systematic access to a variety of points in the technology supply chain and establish a mechanism for surveilling — now or in the future — targets of interest to the Russian government,” Burt said.

The Russian government’s support of hacking groups has been a major point of contention between it and the U.S. Tensions increased earlier this year following the hack of Colonial Pipeline, which disrupted fuel deliveries across the Eastern U.S.

In June, President Joe Biden met with Russian President Vladimir Putin, where he pressed the Russian leader to crack down on cybercrime originating within its borders, naming 16 “critical infrastructure” sectors from the energy industry to water systems that should be “off-limits” to ransomware attacks.

Earlier this month, the Biden administration convened an international summit focused on combating the global epidemic of ransomware attacks, which brought together leaders from more than 30 nations for virtual sessions to strategize on how to better collectively blunt these attacks.

Senior administration officials said that Russia was not invited to the summit, though they stressed that the Biden administration remains in communication with Russian officials on the topic and that the Russian government has taken steps to curb its ransomware industry.

ShareTweetShare

Next Post

NewsWatch: Elon Musk made $36 billion in a single day on Tesla’s historic stock surge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Enter Your Information Below To Receive Latest News And Articles

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

  • Trending
  • Comments
  • Latest

China may be moving toward easy monetary policy, but it will have to tread delicately

October 22, 2021

Plug Power Leads Five Alt-Energy Plays Near Buy Points

October 31, 2021

FTC sues to block Nvidia’s $40 billion acquisition of Arm

December 2, 2021

The Essential Watchlist for Best Stocks Under $2

October 22, 2021

The Best Stocks Under $50 You Can Explore Right Now

0

The Essential Watchlist for Best Stocks Under $2

0

China Evergrande set to avert default as it reportedly pays off bond interest

0

‘The UK really is in trouble’: Doctors warn of a dire Covid crisis as officials reject restrictions

0

Real Estate Newsletter Articles this Week

May 28, 2022

My bank accidentally deposited $10K in my account. I reported it, then moved it to my savings account. Have I done enough?

May 28, 2022

What should I buy right now to fight against hot inflation? These 3 dividend stocks could give shareholders a sizeable pay raise — as soon as next month

May 28, 2022

: Biotech stocks get a boost, or plunge, as new clinical data is shared before major cancer meeting

May 28, 2022
  • Home
  • Latest News
  • Privacy Policy
  • Whitelisting
All rights reserved by www.moneysecretscenter.com
No Result
View All Result
  • Home
  • Latest News
  • Privacy Policy
  • Whitelisting

All rights reserved by www.moneysecretscenter.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In