Overview

• The UK government has opened a 12-week consultation on banning ransomware payments across the public sector and critical national infrastructure organizations.
• Proposals include mandatory reporting of ransomware incidents and restrictions requiring private entities to seek government approval before making payments.
• The consultation aims to disrupt the financial incentives driving ransomware attacks, which cost victims globally an estimated $1 billion in 2023.
• Critics argue that a payment ban could lead to unintended consequences, such as victims seeking alternative illicit means to recover data or avoiding law enforcement altogether.
• The National Cyber Security Centre supports the initiative, emphasizing the need for stronger cyber defenses and operational continuity plans across organizations.