Mandatory reporting for ransomware attacks? – Week in security with Tony Anscombe

Video

As the UK mulls new rules for ransomware disclosure, what would be the wider implications of such a move, how would cyber-insurance come into play, and how might cybercriminals respond?

24 May 2024

UK authorities are reportedly planning to make it mandatory for ransomware victims to report incidents to the government and obtain a license before making ransom payments. Additionally, proposals include banning ransom payments for critical national infrastructure entities to deter cybercriminals from targeting vital services.

These measures aim to help shed light on the extent of the ransomware problem and prevent criminals from monetizing their incursions. However, there are also some concerns, including regarding potential delays and increased harm caused by licensing procedures.

What would be the wider implications of such a move, how would cyber-insurance come into play, and how might cybercriminals respond? Find out in Tony’s video.