Business to inform the government about ransom payment in cyber crime cracks

Business to inform the government about ransom payment in cyber crime cracks

If they plan to give ransom to cyber criminals under new proposals, businesses will have to inform the government, which aims to reduce ransom demands. NHSLocal Council and School.

The proposals of the house office come after the mark and Wig He has refused to say if he gave a ransom to hackers in a major attack earlier this year.

New measures will ban public sector bodies and important national infrastructure operators, which will pay ransom demand to hackers.

House office This will “help break cyber criminal trading models” and UK will help public services and businesses to create a less attractive goal for ransomware groups.

About three-fourths of respondents involved in a public consultation opened in January showed support for the proposal, it said.

In addition, under proposals, businesses not covered by restriction will need to inform the government if they intend to pay ransom.

Government It is hoped that it will allow the advice and support of the affected businesses to be alerted, including such payment if such payment will be at risk of breaking the law by sending money to cyber criminal groups, many of which are based in Russia.

Ransomware refers to the software used by cyber criminals to reach the computer system of their victims, which can then be encrypted until the ransom is stolen.

The M&S was targeted by hackers in April, which forced it to close its website for six weeks and the business for an estimated £ 300 million.

The co-op had to shut down parts of its IT system after a cyber attack, resulting in personal data of all 6.5 million members of it-including names, addresses and contact information.

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M&S’s chair Archie Norman Earlier this month, it was said that the hacking group was incited by scattered Spider and Dragonforce by an Asia-based ransomware operation.

He refused to say whether the retailer had paid the demand for ransomware after the attack, but said that once its system was “damaged”.

Security Minister Dan Jarvis said: “Rainmware is a hunter crime that puts the public at risk, kills livelihood and threatens services that we depend.

“This is why we are firm to break cyber criminal business models and protect the services that we all trust because we distribute our plan to change.”

Rebecca Lawrence, the chief executive of the British Library, stated that it was “a victim of a devastating ransomware attack in October 2023”.

“The attack destroyed our technology infrastructure and continued to influence our users, however, as a public body, we did not engage with the attackers or did not pay ransom,” he said.

“Instead, we are committed to sharing our experiences to protect other institutions affected by cyber crime and to help create collective flexibility for the future.”

Shirin Khauri-Hauq, the chief executive of the co-op, said that he welcomed the government’s proposals and said: “We know that already damage and disruptions are due to businesses and communities due to cyber attacks.”

As a result of the package of measures, a compulsory reporting can also be the beginning of the regime, which, according to the house office, will give more and more intelligence to the law enforcement to track criminals.

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