UK Government Considers Ban on Ransomware Payments

The UK government is contemplating a ban on ransomware payments to safeguard critical national infrastructure. The Home Office proposed a targeted ban on ransom payments for public sector bodies and essential services like energy and healthcare. This initiative aims to deter cybercriminals who often demand cryptocurrency payments. Australia and the US have also explored similar bans in response to cyberattacks. Security Minister Dan Jarvis emphasized the importance of cutting off financial resources for criminal networks. The proposals include a ransomware payment prevention regime and mandatory reporting of incidents to enhance law enforcement efforts. The consultation will continue until April 8, with a focus on protecting essential services from cyber threats. The National Cyber Security Centre reported a significant increase in ransomware attacks, highlighting the urgent need for preventive measures.