Sens. Float 24-Hour Rule To Report Ransomware Payments

By Ben Kochman (September 29, 2021, 7:00 PM EDT) -- Leaders of the Senate Homeland Security Committee have introduced legislation that would require ransomware attack victims to report extortion payments within 24 hours, in Congress' latest bid to address a spree of major cyberattacks that have unfolded in the past year.

The Cyber Incident Reporting Act, sponsored by Sens. Gary Peters, D-Mich., and Rob Portman, R-Ohio., would also set a 72-hour deadline for critical infrastructure companies to report cyberattacks to the Cybersecurity and Infrastructure Security Agency, a division of the U.S. Department of Homeland Security.

Entities that do not report incidents or ransom payments within the required time frames could be...

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