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FBI Requests to Pass a Bill Over Ransomware Attacks - Reporting Ransomware Immediately To Be A Law?

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FBI Requests to Pass a Bill Over Ransomware Attacks – Reporting Ransomware Immediately To Be A Law?

FBI’s Plead for Mandatory Reporting of Ransomware Attacks

The FBI and Department of Justice are pleading with Americans to assist them in avoiding cyberattacks, stating that companies may withhold information out of fear of being sued.

Appeal for a Bill

Tuesday, during a congressional hearing, top federal cybersecurity officials urged Congress to pass a bill requiring businesses and consumers inside the United States to disclose ransomware attacks when they occur.

Richard Downing, Deputy Assistant Attorney General, told a U.S. Hearing before the Senate Judiciary Committee that investigation opportunities are lost without quick reporting. The capacity to assist other victims experiencing similar attacks is diminished, and the government and Congress lack a complete picture of the threat confronting American companies.

The request follows a series of high-profile assaults on U.S. private and public sites, including hospitals, schools, and a fuel pipeline.

The ransomware attack on Colonial Pipeline Co., which carries over half of the East Coast’s diesel, gasoline, and jet fuel, prompted the pipeline’s temporary shutdown, resulting in significant ripple effects currently being studied.

Based on Tuesday’s testimony, roughly three-quarters of all cyberattacks in the country go unreported, making it more difficult for authorities to counteract.

According to reports, Executive Assistant Director of the Cybersecurity and Infrastructure Security Agency Eric Goldstein stated that without such visibility, they are unable to communicate information efficiently, issue timely alerts, assist victims, or comprehend the consequences of these attacks on the critical national functions on which they all rely.

President Joe Biden decided to sign an executive order, following several high-profile cyberattacks on national utilities and services in May. The order requires government contractors in the information technology industry to disclose cyberattacks.

Persuading the Victims of Ransomware Attacks

On Tuesday, Assistant Director of the FBI’s Cyber Division Bryan Vorndran stated that victims of cybercrime should be compelled to inform authorities about cybercriminals’ ransom requests and whether they paid the extortion.

Additionally, the idea of shielding companies from accountability if they do report law enforcement to the cyberattacks was considered. Certain companies may be hesitant to disclose their cyberattacks for fear of litigation, such as class action lawsuits.

Downing stated that victims should not be penalized for cooperating with the government. Victims should retain any legal privilege they may have had over the information before releasing it.

Numerous companies and businesses are facing class action lawsuits over their lack of ransomware protection.

Editor’s Note on FBI Requests to Pass a Bill Over Ransomware Attacks:

This article is written to inform you of the latest FBI’s request to pass a bill that would force companies and citizens to report ransomware attacks immediately.

Topic: FBI Ransomware Bill Request, 2021

Jurisdiction: U.S.A.

Products/Services: Ransomware Attacks

Reason: Investigation opportunities are lost if the ransomware attack is not reported immediately

Status: In-progress

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