Biden administration targets ransomware payment ‘enablers’

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WASHINGTON (AP) — The Biden administration is taking aim at the financial marketplace for criminal ransomware gangs.

The U.S. government on Tuesday announced sanctions against a Russia-based virtual currency exchange that officials say has processed illicit transaction for attackers.

The Treasury Department sanctions are aimed at disrupting the economic infrastructure of a ransomware threat that has surged over the last year and targeted vital corporations and critical infrastructure.

The administration selected for sanctions a currency exchange known as SUEX OTC, which officials say has facilitated transactions for at least eight ransomware variants.

The post Biden administration targets ransomware payment ‘enablers’ appeared first on WEEK.

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