ransom payments News

FBI Chief Wray Warns Cyber-Attacked Firms Not to Pay Ransoms

Companies and organizations that are victims of ransomware attacks shouldn’t pay hackers to unlock their data and should quickly contact law enforcement, which opens up the possibility of creative solutions, FBI Director Christopher Wray said. “It is our policy, it …

Meat Producer JBS Paid $11M in Ransom to Cyber Attackers

Meat producer JBS USA paid the equivalent of $11 million in ransom in response to the May 30 criminal hack against its meat plant operations, the company confirmed in a statement released Wednesday. At the time of payment, the company …

Hackers Only Needed a Single Password to Disrupt Colonial Pipeline, CEO Testifies

The head of Colonial Pipeline told U.S. senators on Tuesday that hackers who launched last month’s cyber attack against the company and disrupted fuel supplies to the U.S. Southeast were able to get into the system by stealing a single …

Cyber Ransom Payments Set a Bad Precedent But Happen Often

The U.S. government’s fight to choke off ransom payments collected by hackers hit a major snag Thursday, following news that Colonial Pipeline Co. paid a hefty sum to hackers who for several days this week effectively shut down the country’s …

Islamic State’s Business Model Must Be Disrupted: Bloomberg Editorial

What it means for a European nation and member of NATO to declare war against a stateless band of terrorists is an interesting and important question, made urgent by Islamic State’s brutal attack on Paris last Friday. As Europe and …

UK Anti-Terrorism Proposal Would Clarify Insurance Law on Ransom Payments

The U.K. government will introduce anti-terrorism legislation this week requiring internet companies to provide user data to authorities. The bill, to be published on Nov. 26 and fast-tracked through Parliament so it becomes law before the general election in May, …