New Rules Cast Shadow over Ransomware Payments
A recent announcement on ransomware from the federal government has put cyber insurance companies and their policyholders in a bind. If the targeted business doesn’t pay the ransom, it can’t operate. If it and its insurer do pay the ransom, the government may penalize them both, and the fines could be hefty — as much as $250,000 per violation in “non-egregious” cases, under new U.S. Treasury guidelines. This