$10 Million Rewards Bolster White House Anti-Ransomware Bid

FILE - In this July 3, 2021 file photo, a sign reads: " Temporarily Closed. We have an IT-disturbance and our systems are not functioning", posted in the window of a closed Coop supermarket store in Stockholm, Sweden. Cybersecurity teams worked feverishly Sunday July 4, 2021, to stem the impact of the single biggest global ransomware attack on record, with some details emerging about how the Russia-linked gang responsible breached the company whose software was the conduit. The Swedish grocery chain Coop said most of its 800 stores would be closed for a second day Sunday because their cash register software supplier was crippled. (Ali Lorestani/TT via AP, File)

(AP) — The Biden administration will offer rewards up to $10 million for information leading to the identification of foreign state-sanctioned malicious cyber activity against critical U.S. infrastructure, including ransomware attacks. The administration is launching the website to offer the public resources for countering the threat. Another measure being announced Thursday to combat the ransomware onslaught is from the Treasury Department. It will engage banks, technology firms and others on better anti-money-laundering efforts for cryptocurrency and on developing more rapid tracing of ransomware proceeds. Officials hope to seize more extortion payments in ransomware cases, as the FBI did in recouping most of the $4.4 million ransom paid by Colonial Pipeline in May.


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