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.
-
‘I take pleasure in thinking I can rid society of at least some of them’: A cyber vigilante is dumping information on notorious ransomware criminals – and security experts say police will be keeping close tabsNews An anonymous whistleblower has released large amounts of data allegedly linked to the ransomware gangs
-
It's been a bad week for ransomware operatorsNews A host of ransomware strains have been neutralized, servers seized, and key players indicted
-
Everything we know about the Peter Green Chilled cyber attackNews A ransomware attack on the chilled food distributor highlights the supply chain risks within the retail sector
-
Scattered Spider: Who are the alleged hackers behind the M&S cyber attack?News The Scattered Spider group has been highly active in recent years
-
Ransomware attacks are rising — but quiet payouts could mean there's more than actually reported
News Ransomware attacks continue to climb, but they may be even higher than official figures show as companies choose to quietly pay to make such incidents go away.
-
Cleo attack victim list grows as Hertz confirms customer data stolen – and security experts say it won't be the lastNews Hertz has confirmed it suffered a data breach as a result of the Cleo zero-day vulnerability in late 2024, with the car rental giant warning that customer data was stolen.
-
‘Phishing kits are a force multiplier': Cheap cyber crime kits can be bought on the dark web for less than $25 – and experts warn it’s lowering the barrier of entry for amateur hackersNews Research from NordVPN shows phishing kits are now widely available on the dark web and via messaging apps like Telegram, and are often selling for less than $25.
-
Healthcare systems are rife with exploits — and ransomware gangs have noticedNews Nearly nine-in-ten healthcare organizations have medical devices that are vulnerable to exploits, and ransomware groups are taking notice.
