Multi-Gov Task Force Plans to Take Down the Ransomware Economy
60 global entities have proposed a plan to hunt down and stop ransomware gangs by attacking their financial operations. The Institute for Security and Technology created the coalition with more than 60 members from software companies, government agencies, nonprofits, academic institutions and cyber security vendors. Microsoft and Amazon are among the associated, alone with the U.S. Department of Justice and Europol and the U.K’s National Cybersecurity Centre.
The groups framework includes a reporting framework, ransom negotiation processes, going after cryptocurrency exchanges and seizing crypto-wallets belonging to the gangs. A full strategy to stem the ransomware attacks is detailed as ransomware has become one of the most frequent types of cyberattack.