Biden administration targets ransomware payment ‘enablers’

WASHINGTON (AP) — The Biden administration is taking aim at the financial marketplace for criminal ransomware gangs. The U.S. government on Tuesday announced sanctions against a Russia-based virtual currency exchange that officials say has processed illicit transaction for attackers. The Treasury Department sanctions are aimed at disrupting the economic infrastructure of a ransomware threat that has surged over the last year and targeted vital corporations and critical infrastructure. The administration selected for sanctions a currency exchange known as SUEX OTC, which officials say has facilitated transactions for at least eight ransomware variants.