I had a thread yesterday about why banning payment of ransomware is not an easy solution to the problem
Just to go through some of the other policy options that are worth considering or combining into a comprehensive package:
Just to go through some of the other policy options that are worth considering or combining into a comprehensive package:
https://twitter.com/JoeUchill/status/1378512730697691136
One idea is to impose know-your-customer laws and mandatory intervention with warrants on cryptocurrencies sold on legitimate exchanges.
It would help recover funds and impose an extreme cost on criminals trying to stay anonymous.
Speculators would super hate it.
It would help recover funds and impose an extreme cost on criminals trying to stay anonymous.
Speculators would super hate it.
There are international diplomacy angles - increasing cooperation between the United States and traditional havens for ransomware gangs. Obviously, this would be incomplete without Russia and could escalate to sanctions.
The US could (and likely has started to) turn to offensive cyber measures to disrupt criminal infrastructure.
Insurance companies could improve baseline cybersecurity practices in their clients to impose cost on ransomware gangs.
We could dissuade ransomware payment without outright banning it - forcing public announcement of payments, etc.
It isn't just a single solution landscape.
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