The shifting sands of the war against cyber extortion

2023-11-21 11:23

Ransomware and cyber extortion attacks aimed at organizations are not letting up.

The often large and sometimes massive ransomware recovery costs companies incur when they decide not to meet the demands deter many other victims from taking that path.

Other things are also in motion that may slowly make life more difficult for threat actors engaged in ransomware and cyber extortion attacks.

Since the start of the year, law enforcement agencies have hit the HIVE and DoppelPaymer ransomware operations.

The Biden-Harris Administration has recently released the National Cybersecurity Strategy, and one of its pillars is combating ransomware through its Joint Ransomware Task Force.

Though the International Counter Ransomware Initiative has limited itself to "Discouraging" companies from paying ransomware demands, 50 member countries have pledged that their governmental institutions would not pay ransomware extortion demands and that they will work towards regulating virtual assets and related service providers, to "Help stem the illicit flow of funds and disrupt the ransomware payment ecosystem."

News URL

https://www.helpnetsecurity.com/2023/11/21/ransomware-cyber-extortion/