On February 4, 2025, Coveware, Inc. released its quarterly ransomware report for the fourth quarter of 2024, and identified that the percentage of victims paying ransoms fell to a historic low of 25%. While the average amount of a payment in Q4 2024 rose 16% quarter-over-quarter to $553,959, the median amount dropped a significant 45% […]
Board Governance & Cyber Risk Management
UK Government Proposes Targeted Ban on Ransom Payments and Increased Ransomware Incident Reporting
On January 14, 2025, the United Kingdom government published a consultation on ransomware proposing new measures to increase incident reporting and reduce ransom payments (the “Consultation”). The Consultation outlines three objectives in this regard and is open for responses until April 8, 2025. Proposal 1: Targeted Ban on Ransomware Payments The UK government is proposing […]
CISA Releases the AI Cybersecurity Collaboration Playbook to Strengthen AI-related Cybersecurity Information Sharing and Collaboration
On January 14, 2025, the Cybersecurity and Infrastructure Security Agency (CISA) released the AI Cybersecurity Collaboration Playbook (the “Playbook”) to provide guidance to organizations within the AI community (including AI providers, developers, and adopters) to voluntarily share AI-related cybersecurity information with CISA and its partners through the Joint Cyber Defense Collaborative (JCDC). To combat AI-related […]
Last Minute Biden Cybersecurity and Artificial Intelligence Executive Orders Survive Initial Trump Revocations
In the final week of the Biden Administration’s term in office, former President Biden issued two high profile executive orders that could have significant ramifications for the cybersecurity and technology industries. The first, issued on January 14, 2025, is an “Executive Order on Advancing United States Leadership in Artificial Intelligence Infrastructure” (the “AI Infrastructure Order”). […]
FTC Finalizes COPPA Rule Amendments
On January 16, 2025, the Federal Trade Commission (FTC) voted 5-0 to approve the finalized amendments to the Children’s Online Privacy Protection Rule (COPPA Rule) that would offer additional privacy safeguards for children under the age of thirteen. The amened COPPA Rule will require operators to obtain separate verifiable parental consent before disclosing personal information […]