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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 […]
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WSJ News Exclusive | Ransomware Targeted by New Justice Department Task Force

“The Justice Department has formed a task force to curtail the proliferation of ransomware cyberattacks, in a bid to make the popular extortion schemes less lucrative by targeting the entire digital ecosystem that supports them. In an internal memorandum issued this week, Acting Deputy Attorney General John Carlin said ransomware poses not just an economic […]
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Payment Processing Giant TSYS: Ransomware Incident “Immaterial” to Company

“Payment card processing giant TSYS suffered a ransomware attack earlier this month. Since then reams of data stolen from the company have been posted online, with the attackers promising to publish more in the coming days. But the company says the malware did not jeopardize card data, and that the incident was limited to administrative areas […]
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5 Ransomware Trends that Should Alarm Credit Unions, Banks

“Ransomware attacks have been accelerating during the pandemic, as cybercriminals take advantage of the security vulnerabilities and disruption caused by the massive movement toward working from home and they find ransomware increasingly profitable. According to a report published Tuesday by the security company Arctic Wolf, the banking sector saw a 520% increase in phishing and […]
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Companies Facilitating Ransomware Payments Could Face Penalties

“Companies that assist victims of ransomware attacks in making payments to criminal hackers could face penalties, according to a new advisory from the U.S. Department of the Treasury.    The civil penalties would apply to those who assist in making ransom payments on behalf of victim companies or governments hacked by criminal groups that have […]
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DDoS extortionists target NZX, Braintree, and other financial services

“For the past weeks, a criminal gang has launched DDoS attacks against some of the world’s biggest financial service providers and demanded Bitcoin payments as extortion fees to stop their attacks. Just this week, the group has attacked YesBank India, Worldpay , PayPal , Braintree , and Venmo , a source involved in the DDoS […]