Public Affairs News
International Task Force Launches New Framework to Combat Ransomware
The Ransomware Task Force (RTF), a global coalition formed in early 2021 with participants from governments, software firms, cyber security vendors, non-profit and academic institutions, has submitted its final report to the US Government calling for “aggressive and urgent” action against ransomware.
In the 81-page report, the RTF, members of which include Microsoft, Amazon, the FBI, and the UK’s National Crime Agency, makes nearly 50 recommendations. It argues that “more than just money is at stake” and says that “ransomware has become a serious national security threat and public health and safety concern.”
The RTF’s recommendations include:
- Designate ransomware attacks as a national security threat
- Require any organisation paying a ransom to publicly report doing so
- Establish a “response and recovery” fund to help ransomware victims respond to and recover from attacks
- Require cryptocurrency exchanges to follow the same “know your customer” and anti-money laundering rules as financial institutions, and aggressively target those that do not
- Exert pressure on nations which are complicit, or refuse to act against domestic ransomware groups
- Create a standard format for reporting ransomware incidents
- Establish a ransomware incident response network
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