US: USE OF CRYPTOCURRENCY IN RANSOMWARE ATTACKS, AVAILABLE DATA, AND NATIONAL SECURITY CONCERNS

The Chairman of the US Senate Homeland Security and Governmental Affairs Committee has released this new report.  It contains the results of an investigation into the role cryptocurrencies continue to play in emboldening and incentivising cybercriminals to commit ransomware attacks that pose an increasing national security threat.  It found that the federal government lacks comprehensive data on ransomware attacks and use of cryptocurrency in ransom payments; reporting of ransomware attacks and ransom payments made in cryptocurrency is fragmented across multiple federal agencies; a lack of reliable and comprehensive data on ransomware attacks and cryptocurrency payments limits available tools to guard against national security threats; and available data on ransomware attacks and cryptocurrency payments limits both private sector and federal government efforts to assist cybercrime victims.

https://www.hsgac.senate.gov/media/majority-media/peters-releases-new-report-on-rise-of-ransomware-attacks-and-how-cryptocurrencies-facilitate-cybercrimes

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

https://www.buymeacoffee.com/KoIvM842y

NOTE THAT THE ABOVE LINK IS NOW CORRECTED AND WORKS!

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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