White House ponders over imposing prohibition on ransom transactions, albeit with conditions attached
The international community is contemplating a ban on ransom payments as part of the ongoing fight against ransomware attacks. This initiative, known as the International Counter Ransomware Initiative, is gaining traction, with the White House and several other global partners involved in the discussions.
Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technologies, has been at the forefront of these discussions. Neuberger highlighted that "money drives ransomware," and a ban would represent a significant shift in strategy. However, the threat intelligence community is not yet in consensus on this matter.
Allan Liska, threat intelligence analyst and solutions architect at Recorded Future, expressed concerns that if ransom payments were banned, ransomware actors might find other ways to commit cybercrime. Liska suggested that ransomware groups, if unable to extort money, would instead trick organisations into giving it to them.
Brett Callow, threat analyst at Emsisoft, believes that limiting the circumstances in which ransoms can be paid will lead to less ransomware. However, he acknowledged that a ban could have specific conditions for a waiver, including cases where a ransomware group is preventing the delivery of critical services.
The San Bernardino County Sheriff's Department in California recently paid a $1.1 million ransom, with half covered by insurance, following a ransomware attack. This highlights the financial incentives driving ransomware attacks and the potential impact of a ban on such activities.
Patrick Hallinan, Australian Minister Counsellor for Home Affairs, stated that ransomware is a financially motivated crime type, and paying ransoms generates more interest in such criminal activity. Hallinan's sentiments were echoed by Liska, who cited a recent ban in North Carolina as an example of why bans might be a bad idea, as they could drive ransomware activity further underground.
The ongoing ransomware attack against Dallas' police department is causing significant impact, underscoring the need for effective measures against such attacks. The European Union and its cybersecurity initiatives are also considering the potential ban, emphasising pragmatic expansion of partnerships involving private actors, security services, Computer Emergency Response Teams (CERTs), technology providers, and communities in the crypto sector.
However, the question of exemptions is a complex one, with the potential for a waiver to create another wrinkle in the maze of cyberattack reporting. The Biden administration previously decided against an outright ban on ransom payments, and the evolution of this initiative will be closely watched by the global threat intelligence community.
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