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Suspected Ransomware Payments Nearly Doubled This Year, Treasury Says

“The volume of suspected ransomware payments flagged by U.S. banks has surged this year, on pace to nearly double last year’s, the Treasury Department said Friday, highlighting the scale of a problem that governments across the world have described as a critical national security threat. Nearly $600 million in transactions were linked to possible ransomware […]
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Ransomware Demands and Payments Hit New Records

“The average ransom paid by victim organisations has increased by 82% since 2020 to a record  $570,000, as cyber criminals intensify their ransomware efforts with increasingly aggressive tactics, according to data from Palo Alto Networks Unit 42 security consulting group. Unit 42 also found that the average ransom demand increased by 518% from the 2020 […]
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Amazon, Google and Other Tech Companies Join Government Effort to Fight Ransomware

“Amazon , Google and Microsoft are among several tech companies that have agreed to join a government effort to fight ransomware as cyber attacks have become regular threats to U.S. organizations. The Department of Homeland Security’s new Joint Cyber Defense Collaborative (JCDC) will coordinate national cyber defense planning across agencies and with the private sector, […]
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FBI Tells Congress Ransomware Payments Shouldn’t Be Banned

“Congress should not attempt to address the threat of ransomware by making ransom payments to cybercriminals illegal, a top FBI official told US lawmakers Tuesday. Banning ransom payments could inadvertently create opportunities for further extortion by ransomware gangs, said Bryan Vorndran, assistant director of the FBI’s cyber division.”
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$10 Million Rewards Bolster White House Anti-ransomware Bid

“The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks , against critical U.S. infrastructure. A task force set up by the White House will coordinate efforts to stem the ransomware scourge. The Biden administration is also […]
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This Crowdsourced Payments Tracker Wants to Solve the Ransomware Visibility Problem

“Jack Cable, a security architect at Krebs Stamos Group who previously worked for the U.S. Cybersecurity and Infrastructure Agency (CISA), is looking to solve that problem with the launch of a crowdsourced ransom payments tracking website, Ransomwhere …The website keeps a running tally of ransoms paid out to cybercriminals in bitcoin, made possible thanks to […]
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Kaseya Ransomware Attack: 1,500 Companies Affected, Company Confirms | ZDNet

“Enterprise tech firm Kaseya has confirmed that around than 1,500 businesses were impacted as a result of an attack on its remote device management software, which was used to spread ransomware.  It appears that the attackers carried out a supply chain ransomware attack by leveraging a vulnerability in Kaseya’s VSA software against multiple managed service […]
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Ransomware Gangs Get Paid Off As Officials Struggle for Fix

“If your business falls victim to ransomware and you want simple advice on whether to pay the criminals, don’t expect much help from the U.S. government. The answer is apt to be: It depends. “It is the position of the U.S. government that we strongly discourage the payment of ransoms,” Eric Goldstein, a top cybersecurity […]
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Hit By a Ransomware Attack? Your Payment May Be Deductible

“As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don’t pay the cybercriminals. But the U.S. government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The […]