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Task force calls for coordinated global response to ransomware

Posted On: Apr. 29, 2021 11:19 AM CST


Ransomware must be prioritized, with coordinated, international diplomatic and law-enforcement efforts and a carrot-and-stick approach that directs nation-states away from providing safe havens to criminals, says a ransomware task force report released Thursday.

The task force of more than 50 assembled by the San Rafael, California-based Institute for Security and Technology included internet and cybersecurity companies, government agencies, nonprofit organizations and academic institutions. It was co-chaired by Michael Philips, chief claims officer of program manager Resilience Cyber Insurance Solutions.

Among other recommendations in the 81-page report is that the United States lead by example and execute “a sustained, aggressive, whole-of-government, intelligence-driven ransomware campaign” that is White House coordinated.

Also recommended is that governments allocate cyber response and recovery funds to support ransomware response.

The task force also called for an international coordinated effort to develop a clear, accessible and broadly adopted framework to respond to ransomware attacks and recommended that the cryptocurrency sector should be more closely regulated.