FBI’s seizure of $2.3 million worth of bitcoin Colonial Pipeline paid a ransomware gang to unlock its data was just the latest in a series of actions the US government has been taking in recent months to combat ransomware and other cybercrime.
But cybersecurity experts say that while individual enterprises should be more diligent about “cyber hygiene,” the government needs to do a lot more about the growing problem than it has done to date.
“Until the Biden administration drafts US Big Tech to join forces and aggressively turn the table on cybercriminals, it is very much every company for itself,” William Moran, an attorney at Otterbourg, who leads the New York City-based law firm’s crisis management and investigations group, told DCK.
Because ransomware attacks are usually conducted by financially motivated criminal gangs, they aren’t as sophisticated as attacks by nation states, and following basic security best practices by individual enterprises can go a long way in reducing risk. But asking everyone to step up alone is insufficient, said Peter Klimek, director of technology at the cybersecurity firm Imperva.