Florida state agencies and local governments are now subject to new cybersecurity requirements and prohibitions that went into effect on July 1, 2022. These new amendments to Florida’s State Cybersecurity Act (“the Cybersecurity Act”) impose practically impossible-to-meet notification requirements on state and local governmental entities and prohibit them from making ransom payments. Stepping back to
New regulatory activity may help companies experience fewer ransomware attacks and could impact whether ransoms can be paid to threat actors. The activity includes guidance and sanctions by the Department of Treasury (“Treasury”) and a host of resources provided by the Health and Human Services Office for Civil Rights. This post describes the activity, its impact on companies that experience a ransomware attack, and practical takeaways for in-house counsel.
Continue Reading To Pay or Not To Pay: What New Regulatory Activity Means for Ransomware Victims