"New Proposal Requires Ransomware Victims To Report Payments Within 48 Hours"

The recently proposed Ransom Disclosure Act would require ransomware victims to report ransom payments within 48 hours of the payment. In compliance with the Ransom Disclosure Act, victims would have to provide information to the Department of Homeland Security (DHS) regarding the ransom demanded and paid, the currency used to pay the ransom, and the entity that demanded the ransom. The bill would require DHS to make the information disclosed in the previous year public without identifying the organizations that paid ransoms. DHS would also be required to set up a website where individuals can voluntarily report ransomware payments. Under the proposed bill, the DHS secretary would be directed to do a study on ransomware attacks and provide recommendations on how to protect organizations from such attacks. This article continues to discuss the goals and requirements of the proposed Ransom Disclosure Act, as well as some concerns surrounding the suggested legislation. 

SC Media reports "New Proposal Requires Ransomware Victims To Report Payments Within 48 Hours"