- Proposals on ransomware protection are being introduced for consultation by the UK Government
- The proposals aim to make critical infrastructure less vulnerable
- These include mandatory reporting and a ban on ransom payments
The UK Government is introducing a consultation on proposals to protect British businesses and infrastructure from the increasing threat of ransomware attacks.
Consultations on the proposals will launch now and will be heard until early April 2025, and include a targeted ban on ransomware payments for the public sector, a ransomware incident reporting regime, and a ransomware payment prevention regime for victims.
The need for protections is evident, with research finding 90% of cyberattacks between April 2023 and March 2024 were politically motivated, which leaves critical infrastructure most vulnerable, as has been seen with frequent recent breaches of healthcare targets, including an NHS children’s hospital.
Unattractive targets
The average cost of a ransomware attack has soared, with recent research claiming such incidents cost UK companies roughly £44 billion over the last five years.
The aims of the proposal are to dissuade attackers from targeting critical infrastructure by placing a ban on paying ransom demands, disrupting the cybercriminal’s source of income. This means that local authorities, schools, and hospitals will be amongst those forbidden from paying – and would be obliged to report any intrusions.
The National Cyber Security Centre’s (NCSC) managed 430 cyber incidents between September 2023 and August 2024, which included 13 ‘nationally significant’ ransomware attacks, deemed to have posed serious harm to essential services or the wider economy.
“Driving down cyber crime is central to this government’s missions to reduce crime, deliver growth, and keep the British people safe,” said Security Minister Dan Jarvis.
“With an estimated $1bn flowing to ransomware criminals globally in 2023, it is vital we act to protect national security as a key foundation upon which this Government’s Plan for Change is built. These proposals help us meet the scale of the ransomware threat, hitting these criminal networks in their wallets and cutting off the key financial pipeline they rely upon to operate.”
Leave a comment