Hitting Where it Hurts

Our history as a society is loaded with creations of all sorts that are designed to help us, entertain us, and eventually make us better as individuals. These creations range across a gamut of categories and their colossal impact in turn only further expands the point of their reach. Even though there have been so many inventions like these, there are some that stand out. These are the ones that you just know are transformative enough to write a new era altogether for themselves, things that are constructed on such a profound base that they end up becoming an indispensable component of our lives. The list of such things is not long, but it’s a sizeable one. Nonetheless, where will you a rank a certain creation that paved the way for thousand others? That’s what technology has so far proved to be.

The induction of technology in our lives has opened the floodgates of innovations that were hard to envision before they actually happened. Suddenly, our lives are elevated to a point from where we can now look towards reaching even higher peaks. However, with this cure of all our limitations arrived certain side effects and one of them has been showing up quite a lot these days. Ransomware is terrorizing the US this year. The amount of cases relating to this virus has never been higher. So far, US government is yet to deliver that ruthless response to these attacks, but their latest move indicates that they might be on the right track. On Thursday, The White House revealed an action plan devised by new interagency task force that’s formed to deal with the present cybersecurity crisis.

Basically, US plans on hitting the hackers where it hurts the most i.e. money. It’s a known fact that these threat actor groups like their ransom in cryptocurrency due to serious lack of regulation around this currency. To tackle this, US is aiming to cut such groups from virtual currency by imposing a series of rules that include things like money laundering requirements and more. The Treasury Department of US has already provided their approval for the implementation of this plan. Furthermore, The Financial Crimes Enforcement Network is on the verge of creating an informative ecosystem that will see financial institutions, technology firms, third-party service providers, and federal government agencies getting better-equipped to deal with the situation.

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