The Case for a Ransom Payment Ban and When It Might Happen
Summary
Britain plans to ban certain ransom payments as part of cybersecurity law reforms; specific details such as covered sectors and organizational sizes are uncertain; all payments may need sanctions checks.
Why It Matters for Texas Credit Unions
While the article focuses on Britain, similar regulations could be proposed in Texas or other states, impacting credit union operations and compliance requirements.
Original Source Material
Britain will likely ban at least some types of ransom payments as it revamps the nation's cybersecurity laws, but many open questions remain, including sectors and the organizational sizes to be covered, and if all payments might be required to pass sanctions checks, said policy expert Jen Ellis.