Ransomware Task Force Urges Tighter Crypto Regulation

By Phil Muncaster for Infosecurity Magazine
Friday, April 30, 2021

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However, some security experts were skeptical about the RTF’s recommendations.

ImmuniWeb founder, Ilia Kolochenko, argued that even if cryptocurrencies were regulated, cyber-criminals would find ways to bypass regulations. Indeed, the current AML regulatory regime is widely seen to have failed.

“I’d rather suggest treating the root cause of ransomware: the widespread lack of basic cyber-hygiene,” Kolochenko argued.

“Even the largest organizations from regulated industries often fail to follow the basics: maintain an up-to-date asset inventory, implement risk-based and threat-aware security controls, perform continuous security monitoring and anomaly detection, conduct ongoing security training and awareness, maintain software and patch management programs, and to enforce centralized identity management.” Read Full Article