Hacked US companies to face new reporting requirements

‘It’s clear we must take bold action to improve our online defences,’ Peters said in a statement. — AFP

WASHINGTON: Companies critical to US national interests will now have to report when they’re hacked or they pay ransomware, according to new rules approved by Congress.

The rules are part of a broader effort by the Biden administration and Congress to shore up the nation’s cyberdefenses after a series of high-profile digital espionage campaigns and disruptive ransomware attacks. The reporting will give the US federal government much greater visibility into hacking efforts that target private companies, which often have skipped going to the FBI or other agencies for help.