In a decisive move, a new coalition of nations is clamping down on the ransomware epidemic by pledging to stop payments to cybercriminals. Led by the United States, The International Counter Ransomware Initiative represents an alliance of 40 countries that last month agreed to collectively refuse the demands of ransomware attackers, arguing that by resisting ransom demands, bad actors’ revenue streams will dry up and the global spate of attacks will diminish.
With ransomware still a burgeoning enterprise, it’s an important step in the right direction. That said, initiatives like these never serve as a silver bullet in and of themselves. They require resources, action, and accountability on behalf of all state and local governments involved to drive enforcement and resilience at scale. In addition, businesses need to ensure they’re doing their part to proactively shore up their security posture against rising threats. Here’s what all this looks like in action.
