If You’re Using Ransomware To Attack Americans, There’s A $10 Million Bounty On Your Head

It seems that the US is getting very serious about taking out ransomware gangs. This is proved by a $10 million bounty that President Biden has put on the heads of those in those gangs:

The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure. A task force set up by the White House will coordinate efforts to stem the ransomware scourge.

But there’s more that is being done:

The Biden administration is also out with a website, stopransomware.gov, that offers the public resources for countering the threat and building more resilience into networks, a senior administration official told reporters.

In another move Thursday, the Treasury Department’s Financial Crimes Enforcement Network will work with banks, technology companies and others on better anti-money-laundering efforts for cryptocurrency and more rapid tracing of ransomware proceeds, which are paid in virtual currency.

These are all good moves. But more needs to be done as this is a multi-faceted problem. Let’s hope that the Biden administration takes actions to make US companies more responsible for defending themselves against attacks. Because simply spending money won’t be enough to solve this problem.

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