Alliance of 40 countries to vow not to pay ransom to cybercriminals, US says
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Forty countries in a U.S.-led alliance plan to sign a pledge never to pay ransom to cybercriminals and to work toward eliminating the hackers’ funding mechanism, a senior White House official said on Tuesday.
The International Counter Ransomware Initiative comes as the number of ransomware attacks grows worldwide. The United States is by far the worst hit, with 46% of such attacks, Anne Neuberger, U.S. deputy national security adviser in the Biden administration for cyber and emerging technologies, told reporters on a virtual briefing.
“As long as there is money flowing to ransomware criminals, this is a problem that will continue to grow,” she said.
In ransomware attacks, hackers encrypt an organization’s systems and demand ransom payments in exchange for unlocking them. Often they also steal sensitive data and use it to extort victims and leak it online if the payments are not made.
While hundreds of companies fall victim every year, high-profile U.S. attacks occurred in the last two months at casino operator MGM Resorts International and cleaning products maker Clorox. Both companies have not yet fully recovered from the disruptions.
