"Alliance of 40 Countries to Vow Not To Pay Ransom to Cybercriminals, US Says"

A senior White House official announced on October 31 that 40 countries in an alliance led by the US plan to sign a pledge to never pay ransom to cybercriminals and to make an effort to eliminate the hackers' funding mechanism. The International Counter Ransomware Initiative is a response to the worldwide increase in ransomware attacks. Anne Neuberger, US deputy national security adviser for cyber and emerging technologies in the Biden administration, highlighted that the US is by far the most impacted with 46 percent of such attacks. As long as ransomware criminals continue to be funded, this problem will continue to grow. Neuberger stated that the alliance's new initiatives aim to eliminate ransomware funding through improved information sharing regarding ransom payment accounts. This article continues to discuss the alliance to vow not give in to cybercriminals' demands for ransom payments.

Reuters reports "Alliance of 40 Countries to Vow Not To Pay Ransom to Cybercriminals, US Says"

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