FTC Chair Threatens Action On Ransomware Holes

Law360, New York (September 8, 2016, 4:06 PM EDT) -- Businesses could face trouble with the Federal Trade Commission if they fail to fix security holes that allow ransomware attacks, Chairwoman Edith Ramirez said Wednesday, threatening to continue a streak of now over 60 enforcement actions against companies with poor data security.

Speaking at a ransomware workshop assembled by the agency, the chairwoman said that companies that leave data vulnerable to ransomware — malware that lets hackers encrypt a computer's data and hold it hostage until payment is extracted — may be running afoul of the law.

“A company’s unreasonable failure to patch vulnerabilities known to be exploited by ransomware might...

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