The U.S. Department of the Treasury unveiled additional steps to curb the illicit use of cryptocurrencies on Friday, warning enterprises not to engage with sanctioned entities exploiting the financial system - particularly to launder ransomware proceeds.
In this update, four editors discuss key cybersecurity issues, including addressing the complexity of security, the rising number of victims targeted by double extortion ransomware and the Information Commissioner's Office's recent consultation on creating an international data transfer agreement.
Democratic lawmakers on the House Committee on Energy and Commerce announced legislation that would rein in tech algorithms on platforms exceeding 5 million monthly viewers. This follows a high-profile whistleblower case heard before Congress on Facebook's allegedly questionable data policies.
The White House National Security Council this week kicked off its international counter-ransomware event with participation from more than 30 nations. This gathering aims to elevate both law enforcement collaboration and diplomatic efforts. Noticeably absent from the summit: Russia.
Dutch cybercrime police have a message for almost 30 users of an on-demand distributed denial-of-service site: We see what you're doing; now cut it out or we're going to arrest you. And not for the first time, the move shows police in Europe emphasizing ethical hacking pursuits instead for young adults.
The U.S. Attorney's Office for the Eastern District of Virginia last week indicted three men - including an ex-employee of Bank of America and TD Bank - with money laundering and aggravated identity theft after the men allegedly conducted an extensive business email compromise scheme.
In an effort to bolster endpoint protection within the U.S. government, the White House is ordering federal agencies to allow CISA to access existing deployments. It is also setting timelines for improving the protection of workstations, mobile phones and servers.
The Central Electricity Authority has released a new set of cybersecurity guidelines for the power sector, aimed at securing OT systems and building a resilient security framework. It mandates, among other things, that all power sector companies appoint a dedicated CISO to secure systems.
A congressional letter sent to the heads of four federal agencies expressed an urgent need for the Biden administration to continue combating ransomware. This includes a particular focus on the cryptocurrency infrastructure that is enabling these cyberattacks, four Democratic lawmakers say.
The U.S. Department of Justice said this week it will pursue government contractors that fail to report cybersecurity incidents. The department also announced the formation of a Cryptocurrency Enforcement Team to prosecute the misuse of virtual currencies.
The Singapore Cybersecurity Strategy 2021 names critical information infrastructure security as its top priority and aims to ensure the country’s cyber resiliency will be strong enough to tackle present-day security threats. The new strategy sets out requirements for CII and non-CII organizations.
U.S. lawmakers have introduced legislation that would require the reporting of ransom payments within 48 hours of the transaction. The bill would also require DHS to create a voluntary website to log ransom payments and task the department with studying ransomware and cryptocurrencies.
A former U.S. Army contractor has been sentenced to 12 years and seven months in prison and ordered to pay $2,331,639.85 in restitution, for conspiring to commit wire fraud and launder money, targeting thousands of military-affiliated individuals, according to a Department of Justice statement.
Four federal agencies have been awarded $311 million to bolster the U.S. government's cyber defenses and address IT modernization challenges, according to the interagency board of the Technology Modernization Fund, a federal funding source, which made the announcement Thursday.
A bipartisan effort to implement cybersecurity incident reporting and the tracking of ransomware payments has been introduced by leaders of the Senate Homeland Security and Governmental Affairs Committee. While it differs from legislation introduced in July, lawmakers hope to reconcile the bills.
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