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Ransomware Payments

Crypto coins on a laptop keyboard and hundred-dollar bills in neon light showing ransomware payments
Cyber SecurityNews

Cyber Criminal Revenue Takes a Dive as Organizations Increasingly Refuse Ransomware Payments

January 25, 2023
2020 and 2021 were record years for ransomware payments at about $765 million. The take collected by ransomware operators is now down 40% to $457 million in 2022.
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Hour glass and cryptocurrency in front of laptop showing ransomware payments
Cyber SecurityNews

24, 48 or 72 Hours? New Bill Complicates Regulation of Ransomware Payments, Introduces Terms That Conflict With Existing Legislation Under Consideration

October 12, 2021
There are two pieces of legislation already in front of Congress that would set reporting requirements for ransomware payments, each proposing different time windows for different industries and company sizes. A third now seeks a 48-hour limit.
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U.S. Capitol building at night showing cyber incident reporting bill for ransomware payments
Cyber SecurityNews

Senate Cyber Incident Reporting Bill Requires Many Businesses to Report Ransomware Payments Within 24 Hours

October 4, 2021
New cyber incident reporting bill that has been introduced to the Senate would create new ransomware payment reporting requirements if passed, including a strict 24-hour limit for any business with more than 50 employees.
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Hacker holding crypto showing crypto exchange sanctioned for ransomware payments
Cyber SecurityNews

Ransomware Payments Prompt Treasury Department Sanction on Russian Crypto Exchange SUEX

September 28, 2021
The U.S. Treasury Department has handed down the first sanctions to a crypto exchange, hitting Russia-based SUEX.io for facilitating ransomware payments.
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Hacker holding money after successful attack showing ban of ransomware payments
Cyber SecurityNews

Top FBI Official: Banning Ransomware Payments Won’t Make the Situation Better

August 6, 2021
There has been considerable debate about banning ransomware payments as a means of curbing the explosive growth of the crime Assistant director of the FBI's cyber division weighed in, suggesting that it would create a new avenue of extortion.
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AXA office building showing cyber insurance will not cover ransomware payments
Cyber SecurityNews

France’s Largest Insurer Will No Longer Cover Ransomware Payments

May 13, 2021
AXA France, regional division of European insurance giant AXA Group and France's largest general insurer, has announced that it will no longer reimburse ransomware payments for customers within the country.
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Money and handcuffs showing US Treasury warning of ransomware payments
Cyber SecurityNews

Another Reason to Avoid Ransomware Payments: US Treasury Warns That It Might Violate Sanctions

October 8, 2020
The US Treasury is now warning of potential sanctions violations if ransomware payments are made, citing the possibility of civil penalties even if the attacker’s identity is unknown.
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