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Ransom Disclosure Act

Introduced: October 6, 2021 Introduced by: Warren, Elizabeth Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 6, 2021
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Oct 6, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

Ransom Disclosure Act

This bill requires certain entities to disclose ransom payments to the Department of Homeland Security (DHS).

Specifically, within 48 hours of paying a ransom, disclosure must be made to DHS by any entity that (1) is engaged in interstate commerce, (2) is engaged in an activity affecting interstate commerce, or (3) receives federal funds.

DHS must publish annually information disclosed, including the total dollar amount paid, without revealing identifying information.

DHS must conduct a study to determine if there are commonalities with respect to the information disclosed and the extent to which cryptocurrency has facilitated the kinds of attacks that resulted in such payments.

DHS must establish a website through which individuals may voluntarily report the payment of a ransom by the individual.

What's happening now October 6, 2021

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 Committees of jurisdiction 1