The government is getting fed up with ransomware payments fueling endless cycle of cyberattacks

CNBC October 18, 2024
Barbara Booth

Key Points

– The U.S. government is scrambling to find ways to disrupt ransomware networks responsible for thousands of hacks annually, and getting cyber insurance companies to stop reimbursements for ransom paid is among the asks.

– A top national cybersecurity advisor urged in a recent op-ed, “This is a troubling practice that must end.”

– Sources say the FBI advises against paying a hacker’s ransom request, but that the government also understand companies may need to pay the price to get back control of critical operations.

With ransomware attacks surging and 2024 on track to be one of the worst years on record, U.S. officials are seeking ways to counter the threat, in some cases, urging a new approach...

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