UK to introduce watered-down version of mandatory reporting for ransomware attacks
The Record
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Contributed by: Drex DeFord
Summary
The UK government has announced its intention to introduce a Cyber Security and Resilience Bill aimed at updating the country's cybersecurity regulations. This new legislation will include mandatory reporting requirements for companies hit by ransomware, in response to increasing ransomware incidents. While originally ambitious plans proposed by the Home Office would have required all ransomware victims to report and seek authorization before making extortion payments, the current bill restricts new rules to regulated entities and possibly managed service providers, leaving out broader private sector requirements. The bill aims to enhance the protection for digital services and supply chains, particularly critical public services, and includes measures to improve incident reporting standards and empower regulators to ensure cyber safety. The Department for Science, Innovation and Technology is spearheading the effort, though the introduction date to parliament remains unspecified.
