Emre Cakmakcioglu

1 week ago | mondaq.com | Cameron Abbott |Rob Pulham |Stephanie Mayhew |Emre Cakmakcioglu

As of 29 May 2025, the requirement onbusinesses to report ransomware payments they make has comeinto effect. If a reporting business entity becomes impacted by a cybersecurity incident and ends up making a ransomware payment inresponse to the incident, the business must report the ransomwarepayment to the designated government agency within 72 hours aftermaking the payment or becoming aware that the payment was made.