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Efforts to curb ransomware crimes face limits

Monday, June 14, 2021

Significance

The pressure has intensified following two costly and highly disruptive double-extortion ransomware attacks against US-based firms -- one against Colonial Pipeline in early May and the other against JBS Foods in early June.

Impacts

  • Russian-based cybercriminals will mainly target Western entities, safe because there is no extradition treaty with the EU or Washington.
  • Sophisticated and careful victim selection will allow hackers to increase ransom demands.
  • Western ‘hackback’ operations are likely to rise following the FBI’s recent success against DarkSide.

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