Stephanie Mayhew

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.

1 week ago | jdsupra.com | Cameron Abbott |Stephanie Mayhew |Rob Pulham

[co-author: Emre Cakmakcioglu]As of 29 May 2025, the requirement on businesses to report ransomware payments they make has come into effect. What is the Requirement? If a reporting business entity becomes impacted by a cyber security incident and ends up making a ransomware payment in response to the incident, the business must report the ransomware payment to the designated government agency within 72 hours after making the payment or becoming aware that the payment was made.