Press Release
Ransomware Task Force (RTF) Releases Comprehensive Framework to Combat Ransomware, Members from Global Cyber Alliance Contribute to Critical
Members From Global Cyber Alliance Participated In A Three-month Public-private Sprint With An Interdisciplinary Group Of Domain Experts, Resulting In Nearly 50 Actionable Steps For Both Industry And Government To Reverse The Trajectory Of Ransomware Attacks
April 29, 2021, Washington, D.C. — The Global Cyber Alliance (GCA) in partnership with The Ransomware Task Force (RTF), a broad coalition of over 60 experts in industry, government, law enforcement, civil society, and international organizations today released a comprehensive framework to combat ransomware. The RTF was formed in January by the Institute for Security and Technology (IST), and members from GCA proactively contributed to its efforts, collaborating to mitigate this growing and dangerous threat. We are proud to support the release of the resulting report today: “Combating Ransomware: A Comprehensive Framework for Action.”
“The cost of ransom paid by organizations has nearly doubled in the past year, and is creating new risks, many that go far beyond monetary damage,” said Philip Reiner, the CEO of IST and the Executive Director of the RTF. “In the past 12 months alone, we’ve seen ransomware attacks delay lifesaving medical treatment, destabilize critical infrastructure, and threaten our national security. We felt an urgent need to bring together world-class experts across all of the relevant sectors to break down silos and create a framework that government and industry can pursue to disrupt the ransomware business model, mitigate the impact of these attacks, and ensure the continued faith of the general public in its institutions.”
The RTF recognized that ransomware is an international crime that increasingly touches public and private sectors alike. Any solutions must thus apply both internationally and to a wide array of affected sectors. For this reason, the RTF was proactively convened with representatives across disparate sectors, large and small, public and private, to include the healthcare and financial sectors, cybersecurity and tech, government and law enforcement, and civil society. It is because of this variety in expertise that the RTF was able to develop multifaceted solutions and a full, comprehensive strategy to stem the ransomware tide.
The recommended framework consists of four goals; to deter ransomware attacks through a nationally and internationally coordinated, prioritized, and resourced, comprehensive strategy; to disrupt the ransomware business model and decrease criminal profits; to help organizations better prepare for ransomware attacks; and to respond to ransomware attacks more effectively. The 48 recommended actions provide guidance for dealing with the complexities of the ransomware epidemic, from the role of cyber insurance, to cryptocurrency, to safe havens for threat actors, and has recommended actions for industry, government, and civil society.
The RTF’s recommended framework is not for piecemeal action; it will take the coordinated effort of many stakeholders to accomplish these four critical goals, which each fill a gap in the current approach to ransomware mitigation.
“I’m pleased with the work the Ransomware Task Force has done. It is through collaboration and collective action that we can begin addressing the scourge of ransomware at scale,” said Megan Stifel, GCA Executive Director of the America. “It is my hope that the release of today’s report accelerates ongoing efforts by industry and government take coordinated steps towards reducing ransomware. GCA is committed to doing its part to help communities around the world access tools and resources to help stave off ransomware attacks.”
The time for concerted, coordinated action is now. We at GCA are proud to have played a part in this groundbreaking coalition, and look forward to the day when the threat of ransomware no longer looms over the heads of citizens, students, teachers, businesses, hospitals, and nations.
To read the RTF report
http://securityandtechnology.org/ransomwaretaskforce/report
To learn more about the Ransomware Task Force, visit
https://securityandtechnology.org/ransomwaretaskforce/
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MEDIA CONTACT:
For all media inquiries and further information on Global Cyber Alliance’s involvement in the RTF, contact [email protected]
About the Global Cyber Alliance
The Global Cyber Alliance (GCA) is an international, cross-sector effort dedicated to eradicating cyber risk and improving our connected world. We achieve our mission by uniting global communities, implementing concrete solutions, and measuring the effect. Learn more at www.globalcyberalliance.org.
