Ransom Disclosure Act would give victims 48 hours to report payments

Victims of ransomware attacks in the United States may soon have to report any payments to hackers within 48 hours, according to a new legislation proposal titled the ‘Ransom Disclosure Act’.

The bill was drafted by U.S. Senator Elizabeth Warren and Representative Deborah Ross, and its goal is to strengthen DHS’s (Department of Homeland Security) understanding of how cybercriminal gangs operate.

As the Senator stated, ransomware attacks are on the rise despite the multi-faceted efforts to tackle the problem, so getting to learn more about how money circulates in the underground may help the authorities develop and implement more effective disruption and prevention strategies.

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Source:  Bleeping Computer