International Effort To Reduce Ransomware Attacks

The US Government is putting together a 30-country meeting this October to try improve the global response to ransomware attacks that directly affect economic and national security, following a recent statement from President Biden. The goal of the alliance will be "to accelerate our cooperation in combating cyber crime, improving law enforcement collaboration, stemming the illicit use of crypto-currency, and engaging on these issues diplomatically."

The announcement follows a series of ransomware attacks on US critical infrastructure firms in recent months, including one that forced major US fuel supplier Colonial Pipeline to shut down for days.

Ransomware is a type of malware where one party threatens to publish or block access to the victim’s data unless they receive a ransom. Some ransomware attacks can be easily undone by an IT professional. But cryptovirology is much harder to reverse as it involves encrypting the victim’s data. Without a decryption key, the data may be lost.

Ransomware can pose a hefty danger to global cyber security as it scrambles the target organisation's data with encryption. The criminals leave instructions on infected computers for negotiating ransom payments. Once paid, they provide decryption keys for unlocking those files. 

"Cyber threats affect the lives and livelihoods of American families and businesses," national security adviser Jake Sullivan said in a statement to CNN. Sullivan said the administration would "continue to build on our whole-of-government effort to deter and disrupt cyber attacks." An online session hosted by the White House National Security Council will also be aimed at "improving law enforcement collaboration" on issues like "the illicit use of crypto currency," Biden said in a statement.

The first meeting of the multilateral initiative will be held virtually. It's part of a recurring effort to cut off revenue for ransomware groups and figure out ways to prosecute them, according to the White House. In bolstering US cyber security, "the Federal government needs the partnership of every American and every American company in these efforts," Biden added. 

Recently Biden asked Russian President Vladimir Putin to crack down on cyber criminals operating from Russian soil, but many US officials are skeptical of Moscow's willingness to do so. After a brief period of quiet from some ransomware groups following the Biden-Putin meeting, hackers have claimed multiple US companies as victims in recent weeks. 

US officials have looked for ways to slow down the cyber criminals that do not rely on Russian government cooperation. The Treasury Department last month imposed sanctions on a crypto-currency exchange that US officials accused of doing business with hackers behind eight types of ransomware. One White House official said they are particularly eager to address "the misuse of virtual currency to launder ransom payments" and intend to "investigate and prosecute ransomware criminals," many who are anonymous and attack institutions in other countries.

Reuters:      Bloomberg:     Fox:       CNN:      Republic World

You Might Also Read: 

US Cyber Security Chiefs Support Mandatory Incident Reporting:

 

« British National Cyber Force Campus
Protecting Your Business Data Using Fake Information »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

Alvacomm

Alvacomm

Alvacomm offers holistic VIP cybersecurity services, providing comprehensive protection against cyber threats. Our solutions include risk assessment, threat detection, incident response.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

ZenGRC

ZenGRC

ZenGRC - the first, easy-to-use, enterprise-grade information security solution for compliance and risk management - offers businesses efficient control tracking, testing, and enforcement.

Green Hills Software

Green Hills Software

Green Hills Software is the largest independent vendor of embedded secure software solutions for applications including the Internet of Things.

Atea

Atea

Atea is the market leader in IT infrastructure for businesses and public-sector organizations in Europe’s Nordic and Baltic regions.

Hivint

Hivint

Hivint is a new kind of Information Security professional services company enabling collaboration between our clients to reduce unnecessary security spend.

Cytelligence

Cytelligence

Cytelligence is a cyber security consulting company with deep expertise in Cyber Breach Response, Cyber Breach Investigations, and Digital Forensics.

CS3STHLM

CS3STHLM

CS3STHLM is the Stockholm international summit on Cyber Security in SCADA and Industrial Control Systems.

NeuroChain

NeuroChain

NeuroChain is an intelligent ecosystem that is more secure, more reliable and much faster than blockchain.

CyberMDX

CyberMDX

CyberMDX delivers proactive security built for hospital devices. 360° visibility, insight, and protection for all connected hospital technologies.

ThreatModeler

ThreatModeler

ThreatModeler is an automated threat modeling solution that fortifies an enterprise’s Software Development Lifecycle by identifying, predicting and defining threats.

Senserva

Senserva

Senserva delivers a deep analysis for security user accounts and applications within the Microsoft cloud environment.

Globant

Globant

Globant is an It and software development company. We leverage the latest technologies and methodologies to help organizations transform in every aspect, including software security.

Opticks Security

Opticks Security

Opticks provides fraud detection and monitoring solutions for leading brands. agencies and networks. Our relentless mission is to deliver reliable and innovative software to beat digital fraud.

Byos

Byos

Byos provides visibility of devices across all networks, regardless of location, integrating with your existing security stack.

TatvaSoft

TatvaSoft

TatvaSoft is a custom software development company delivering business IT solutions and related services to customers across the globe.

Sourcepass

Sourcepass

Sourcepass is an IT consulting company that focuses on providing expert IT services, cloud computing solutions, cybersecurity services, website, and application development.

Netia

Netia

Netia is a Polish telecommunications company providing a range of business services including network solutions, communications, data centre and cloud, and cybersecurity.

Boldend

Boldend

Boldend offers leading-edge offensive and defensive cybersecurity solutions that empower government and commercial organizations to stay resilient in an evolving threat landscape.