Recent government crackdowns on Ransomware are changing the way businesses need to handle these cyber threats.
New laws and regulations are designed to make it harder for cybercriminals to get away with Ransomware attacks and push companies to improve their Cybersecurity.
How Does The U.S. Government Respond To Ransomware?
The U.S. government has set up a multifaceted response when dealing with Ransomware attacks. This includes new laws, rules, and coordinated efforts between different agencies.
The federal government uses several methods to fight Ransomware, including:
- Criminal Prosecution: The Computer Fraud and Abuse Act (CFAA) allows the prosecution of individuals involved in Ransomware attacks, including those who create or help spread Ransomware.
- Cybersecurity Laws: Federal laws require agencies to protect their networks and help private companies secure their systems. The Cybersecurity and Infrastructure Security Agency (CISA) helps coordinate these efforts as well as provide Cybersecurity best practices.
- Ransom Payment Policies: There’s no federal law that bans paying ransoms, but the U.S. Department of the Treasury warns against paying ransoms to sanctioned groups, as it could result in legal penalties.
- International Cooperation: The U.S. works with other countries to break up Ransomware networks and boost global Cybersecurity. This includes using diplomacy and law enforcement partnerships to tackle international cybercrime.
There are also several new bills being proposed. On July 1, 2022, Florida became the second state, after North Carolina, to ban state and local government agencies from paying Ransomware demands.
Florida’s law also requires these agencies to quickly report such attacks. There are also Ransomware-related bills being proposed in Arizona, New York, Pennsylvania, and Texas, as well as federal bills in Congress.
Why The Government Is Taking These Steps
As Ransomware attacks keep happening more often and becoming more advanced, both federal and state regulations will keep changing to tackle these issues. In 2023 alone, organizations worldwide reported 317.59 million Ransomware attempts.
Take for example, the Colonial Pipeline shut down after one of the biggest Ransomware attacks ever. The company paid $4.4 million to the hackers to get the pipeline back up and running. In response to these increasingly alarming attacks, President Joe Biden signed an executive order to introduce new policies to strengthen the nation’s Cybersecurity.
What Do These Policies Mean For Your Business?
These U.S. government policies and regulations include making it harder to pay ransoms, improving your security, and reporting attacks. The new policies and regulations are a step in the right direction; they aim to encourage organizations to strengthen their defenses, which can help reduce the risk of attacks.
However, regulations alone won’t protect against every threat.
Businesses need to be proactive in investing in their own Cybersecurity measures. One effective way to do this is through penetration testing. They can simulate Ransomware attacks on a company’s systems to find vulnerabilities before real hackers can exploit them.
Get the latest insights and tips to protect your business effectively with our Ransomware Readiness webinar.
FAQ
Is There Any Protection Against Ransomware?
Yes, you can protect yourself from Ransomware by using strong security measures. This includes regularly updating your software, backing up your data, and investing in Cybersecurity solutions like penetration testing to find and fix vulnerabilities in your systems before attackers strike.
What Is The Best Backup For Ransomware?
The best backup for Ransomware is one that is done regularly and stored offline. Regular backups keep your data safe, and keeping them offline means hackers can’t reach them if they attack your system. This way, you can restore your files without paying a ransom.
How Do Organizations Protect Against Ransomware?
Organizations protect against Ransomware by using strong security measures, such as regular backups, penetration testing, endpoint security, and employee training. 2Secure Corp can help your business by providing specialized Cybersecurity solutions to keep your systems safe and reduce the risk of an attack.
