Banning ransomware payments might thwart the motivation for attacks, as cybercrime relies on profit. However, enforcing a UK-only ban could prompt businesses to pay via international avenues, like third-party cryptic transfers.
The US, experiencing a high percentage of ransomware incidents, has taken strides to discourage payments. Despite uncertainties in government agendas, the ban on ransomware payouts could potentially unify conflicting sides.
Ransomware, once primarily targeting individuals, now impacts businesses significantly. Past cyber regulations like Sarbanes-Oxley reflect the US government's potential willingness to combat such crimes.
The ever-evolving nature of ransomware poses challenges, with attacks now focusing more on businesses rather than individuals, leading to demands for larger sums of money.
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