
Holly Waszak
Head of Cyber Claims, Cyber Risk
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United Kingdom
Following our recent article on laws to disrupt ransomware payments in the UK, we want to share an important update on the government’s consultation outcomes. The recent consultation, which received 273 responses, has confirmed widespread support for several key measures. Based on these responses, the government is actively developing all three proposals into legislation designed to deter ransomware criminals and limit the flow of ransom payments from UK businesses.
As a result of these positive responses, the government intends to progress with the development and implementation of all three proposals into legislation.
However, several significant details are yet to be ironed out, including penalties for non-compliance; how such a scheme will be resourced; and the extent to which reports will result in tangible help from government agencies for victims. Concerns remain that these proposals may not have the deterrent effect the government hopes for, because many ransomware attacks are opportunistic in nature and not targeted at specific organisations or sectors. Furthermore, it is likely that the proposed measures will create additional stress and complexity for incident response teams during a time of crisis. The government has promised to publish “detailed guidance” before new reporting obligations come into force, and we eagerly await that guidance.
For more detailed insights into the consultation responses and findings, please refer to the full government response report here: Government response to ransomware legislative proposals: reducing payments to cyber criminals and increasing incident reporting.
We will continue monitoring these developments and keep you informed of further updates.
Head of Cyber Claims, Cyber Risk
United Kingdom
Head of Cyber Incident Management
United Kingdom