BC Advantage - 2021 Issue 11
Ransom Disclosure Act - Proposed Bill Will Require Victims to Disclose Ransom Payments within 48 Hours
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Article Overview
This article is a policy and compliance update about a proposed federal bill focused on ransomware transparency and reporting. It explains the general purpose of the measure, the agencies involved, the types of information the bill would require to be reported, and why the issue matters to organizations that handle sensitive data or support cybersecurity oversight. It is relevant to privacy, security, compliance, and risk management professionals who monitor legislation affecting incident response and cybercrime reporting.
Why This Topic Matters
Organizations that may face ransomware incidents need to track legislative developments that could affect reporting obligations, public disclosure practices, and cybersecurity governance. The article helps readers understand the broader compliance and operational implications of proposed ransomware-related federal policy.
What You Will Learn
- The general purpose of the proposed ransomware disclosure legislation
- Which federal entities are mentioned in connection with the proposal
- What categories of ransomware-related information the bill addresses
- Why ransomware reporting is being framed as a cybersecurity and national security issue
- Who in the compliance and security community would care about the proposal
Who Should Read This
- HIPAA Security Officers
- HIPAA Privacy Officers
- Compliance Officers
- Privacy and Security Officers
- Practice Administrators
- Office Managers
- IT Consultants
- Executives
- Administrators
- Covered Entities and Business Associates
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