RANSOMWARE Act

Reporting Attacks from Nations Selected for Oversight and Monitoring Web Attacks and Ransomware from Enemies Act or the RANSOMWARE Act

This bill requires the Federal Trade Commission to report on cross-border complaints received that involve ransomware or other cyber-related attacks committed by certain foreign individuals, companies, and governments. The report must focus specifically on attacks committed by (1) Russia, China, North Korea, or Iran; or (2) individuals or companies that are located in or have ties to those countries.

The RANSOMWARE Act, also known as Bill 117 hr 4551, is a piece of legislation introduced in the US Congress aimed at addressing the growing threat of ransomware attacks. Ransomware is a type of malicious software that encrypts a user's files and demands payment in exchange for the decryption key.

The RANSOMWARE Act seeks to combat these attacks by increasing penalties for those who engage in ransomware activities. It also aims to improve coordination between federal agencies, law enforcement, and private sector entities to better respond to and prevent ransomware attacks.

Additionally, the bill includes provisions to enhance cybersecurity measures for critical infrastructure, such as power grids, water systems, and transportation networks. It also calls for increased resources and training for law enforcement agencies to investigate and prosecute ransomware attacks. Overall, the RANSOMWARE Act is a comprehensive piece of legislation designed to strengthen the nation's defenses against ransomware attacks and protect critical infrastructure from cyber threats.