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Call for ransom reporting framework to tackle cyber criminals Save Share Shadow minister for cyber security Tim Watts says a mandatory reporting regime for businesses that feel they have no choice but to pay cyber criminals extorting them would help smoke out and target crypto-currency exchanges being used to launder funds and hit ransomware groups financially. Ransomware attacks are estimated to have cost the Australian economy $1.4 billion in 2020, including both ransom demand costs and average down time of networks, according to security firm Emsisoft. Shadow assistant minister for communi...

Jen Miller-Osborn, deputy director of threat intelligence, Unit 42 at Palo Alto Networks The ransomware challenge facing organizations today traces directly to the success being enjoyed by gangs who wield such malware, says Jen Miller-Osborn, deputy director of threat intelligence for Unit 42 at Palo Alto Networks. Criminals who wield ransomware are seeing low barriers to entry and enormous potential profits on offer, especially as more victims pay higher ransoms. What more can be done to challenge extortionists' seemingly limitless ability to disrupt corporate networks as they demand ransom ...

What is the current state of ransomware and what needs to be done to stop it? A panel of experts at the RSA Conference has a few ideas

To print this article, all you need is to be registered or login on Mondaq.com. The Ransomware Task Force (RTF), which is comprised of a team of more than 60 experts from software companies, cybersecurity vendors, government agencies, nonprofits and academic institutions, recently issued a major report focused on strategies to resist, disrupt and develop resilience to the ransomware threat. The report includes a framework with recommendations organized around four goals: (1) deter ransomware attacks through a comprehensive, nationally and internationally coordinated ...

To embed, copy and paste the code into your website or blog: In the last few years, thousands of businesses, hospitals, school districts, local governments, and other entities have fallen victim to ransomware. Several government and quasi-government groups are looking to take action. The Institute for Security and Technology’s (IST) Ransomware Task Force (RTF) recently offered several notable recommendations that will affect the private sector if adopted. On April 29, the RTF – a coalition of volunteers from industry, government, law enforcement, civil society, cybersecurity insurers, and...