Two bipartisan US senators have introduced a bill that aims to strengthen the cyber security of critical infrastructure and target foreign governments that harbour cyber criminals, in the wake of an increase of cyber attacks on the US.
The “Sanction and Stop Ransomware Act” was introduced yesterday by Republican senator Marco Rubio and Democrat Dianne Feinstein.
It aims to designate as a state sponsor of ransomware any country that the secretary of state determines has provided support for ransomware campaigns, including providing safe haven for individuals or groups. The bill requires the president to impose sanctions and penalties on each state designated as a state sponsor of ransomware, “consistent with sanctions and penalties levied on and against state sponsors of terrorism”.
Furthermore, the legislation also aims to develop regulations for cryptocurrency exchanges to reduce the anonymity of accounts and users suspected of ransomware activity and make these records available to the US government in connection with ransomware incidents. It also looks to require the development of cyber security standards for critical infrastructure entities, which are consistent with existing federal regulations.
Lastly, it requires federal agencies, government contractors, and critical infrastructure operators and owners to report the discovery of “ransomware operations” within 24 hours, consistent with the Rubio-Warner-Collins Cyber Incident Notification Act, which requires government bodies to report “cyber intrusions” within 24 hours.
RELATED RESOURCE
2021 state of email security report: Ransomware on the rise
Securing the enterprise in the COVID world
“Our bill will help the private and public sectors avoid ransomware attacks, reduce incentives to pay ransoms and hold foreign governments accountable if they provide a safe haven for ransomware perpetrators,” said Feinstein.
The bill will now be assigned to a committee to study before being voted on by the House of Representatives where it could then potentially move to the Senate if approved.
At the start of June, the US Department of Justice (DoJ) elevated ransomware investigations to a similar status as that of terrorism, following a series of attacks on the US, including the Colonial Pipeline hack. Internal guidance sent to US attorney’s offices stipulated that ransomware investigations should be centrally coordinated with a new task force in Washington. Investigating officers are then expected to share updated case details and technical information with officials in Washington.
-
Using DeepSeek at work is like ‘printing out and handing over your confidential information’News Thinking of using DeepSeek at work? Think again. Cybersecurity experts have warned you're putting your enterprise at huge risk.
-
Can cyber group takedowns last?ITPro Podcast Threat groups can recover from website takeovers or rebrand for new activity – but each successful sting provides researchers with valuable data
-
Average ransom payment doubles in a single quarterNews Targeted social engineering and data exfiltration have become the biggest tactics as three major ransomware groups dominate
-
BlackSuit ransomware gang taken down in latest law enforcement sting – but members have already formed a new groupNews The notorious gang has seen its servers taken down and bitcoin seized, but may have morphed into a new group called Chaos
-
Google cyber researchers were tracking the ShinyHunters group’s Salesforce attacks – then realized they’d also fallen victimNews In an update to an investigation on the ShinyHunters group, Google revealed it had also been affected
-
Nearly one-third of ransomware victims are hit multiple times, even after paying hackersNews Many ransomware victims are being hit more than once, largely thanks to fragmented security tactics
-
75% of UK business leaders are willing to risk criminal penalties to pay ransomsNews A ransom payment ban is a great idea - until you're the one being targeted...
-
The Scattered Spider ransomware group is infiltrating Slack and Microsoft Teams to target vulnerable employeesNews The group is using new ransomware variants and new social engineering techniques - including sneaking into corporate teleconferences
-
Hackers breached a 158 year old company by guessing an employee password – experts say it’s a ‘pertinent reminder’ of the devastating impact of cyber crimeNews A Panorama documentary exposed hackers' techniques and talked to the teams trying to tackle them
-
The ransomware boom shows no signs of letting up – and these groups are causing the most chaos
News Thousands of ransomware cases have already been posted on the dark web this year
