The US Senate Judiciary Committee convened a hearing to discuss the growing threat of ransomware. US Justice department officials strongly supported legislation requiring companies to report ransomware attacks and data breaches. Richard Downing, Deputy Assistant Attorney General for the Criminal Division of the US Department of Justice, stated that investigative opportunities are lost without immediate reporting. Lawmakers from both parties agreed that breach notification laws are necessary given the current frequency of ransomware attacks. Although many officials expressed a need for new legislation, they all agreed a full-out ban on ransomware payments was not necessary. FBI officials feared it would create another level of extortion by being blackmailed for paying a ransom and not sharing it with authorities.
By Akshay Rohatgi and Randy Pargman About this Student Research Project Binary Defense’s mission is