Latest coverage for Proposal

Enzo Biochem Previously Paid Three States $4.5M in Fines for Same BreachBiotech firm Enzo Biochem has agreed to pay $7.5 million to settle a consolidated proposed class action lawsuit involving a 2023 ransomware attack affecting 2.5 million people. The company has already paid $4.5 million in fines to three state attorneys general for the same incident.

Also: Bringing AML and Fraud Programs Together; the Global AI Arms RaceIn this week's update, ISMG editors discussed a U.K. proposal to mandate ransomware payment reporting, tackling financial crime by bringing together fraud and AML teams, and the global AI arms race as countries compete to lead innovation while balancing regulation and ethics.

Also: US Govt Seeks Return of Hack Funds to Bitfinex; Mango Markets ShutsThis week, BitMEX fined $100M, prosecutors sought return of Bitfinex funds, Mango Markets shut, a Web3 attack method; pastor charged in crypto scam, CFPB proposed firms refund hack victims, 2024 crime stats, Wolf Capital co-founder's guilty plea, Thai Bitcoin miners seized and a New York AG lawsuit.

A proposed settlement order from the FTC will require GoDaddy to strengthen its security practices following multiple data breaches at the web hosting giant

British Government Proposals Also Include Payment Bans for Critical InfrastructureBanning ransom payments by public sector and critical infrastructure entities, notifying the government of any intent to pay a ransom, and reporting incidents to authorities comprise three counter-ransomware initiatives proposed by the British government. Which ones will pass muster?

A UK government consultation has proposed banning public sector and critical infrastructure organizations from making ransomware payments to disincentivize attackers from targeting these services