The UK government is considering a ban on ransomware payments for operators of critical national infrastructure, a move aimed at cutting off the financial lifeline of cybercriminals. Announced by the Home Office on January 14, the proposed “targeted ban” would extend existing restrictions for government departments to sectors such as energy, healthcare, and local councils.
The proposal also includes measures to provide ransomware victims with better guidance, mechanisms to block payments to known criminal entities, and a mandatory incident reporting framework to bolster law enforcement’s capabilities.
A Move to Strengthen National Security
UK Security Minister Dan Jarvis emphasized the proposal’s role in protecting national security by disrupting ransomware networks financially.
“These proposals help us meet the scale of the ransomware threat, hitting these criminal networks in their wallets and cutting off the key financial pipeline they rely upon to operate,” Jarvis stated.
The Home Office added that such measures would make critical services less attractive targets for cybercriminals. The initiative follows several high-profile attacks, including the 2023 Royal Mail ransomware incident and breaches at healthcare provider Synnovis and the British Library in 2024.
A Global Trend in Combating Ransomware
Ransomware attacks, often demanding cryptocurrency payments, have emerged as a significant global threat. The National Cyber Security Centre (NCSC) reported managing 430 cyber incidents in the past year, with ransomware identified as the most disruptive cyber risk.
The UK is not alone in considering a ban. Similar measures have been explored by Australia and the United States as part of broader strategies to deter cybercriminals.
Crypto’s Role in Ransomware Payments
Cryptocurrency’s role in facilitating ransomware payments has drawn regulatory scrutiny. The UK’s Financial Conduct Authority (FCA) has implemented tighter controls on crypto firms, requiring them to register with the regulator and adhere to strict anti-money laundering rules. Firms must also include prominent risk warnings in marketing materials, with severe penalties for non-compliance, including criminal charges.
Public Consultation and Next Steps
The proposal is open for public consultation until April 8, 2025. Stakeholders are invited to provide feedback on the potential impacts of the ban, as well as the implementation of reporting frameworks and payment-blocking mechanisms.
If enacted, the UK’s ransomware payment ban would represent a significant step in the global effort to combat cybercrime, sending a clear message to criminal networks: ransomware attacks will no longer yield easy profits.
