"Ransomware Task Force: Data Sharing Needed to 'Build a Clear Picture'"

Data sharing is an essential component of ransomware defense. However, a new report shows that private sector organizations, governments, and cryptocurrency entities still need to cooperate to share information about security events. The Ransomware Task Force (RTF) of the Institute for Security and Technology, a coalition of over 60 industry, government, and law enforcement experts, recently posted an update on the progress made regarding the 48 recommendations they made in 2021 for disrupting the ransomware threat ecosystem. Several victories were highlighted in the report. As of May, 92 percent of the 48 suggestions had resulted in some action, with around half having made "significant progress" in the form of policy implementation. According to the RTF, there have been increasing public-private partnerships and government collaboration in order to carry out investigations against ransomware operators. At the same time, the US government is engaged in different cryptocurrency regulations, with recent sanctions of exchanges and mixers involved in ransomware operations. While there has been progress in cyber incident reporting, RTF stated that the industry still lacks a complete understanding of the scope, scale, and effects of ransomware attacks. As the ecosystem evolves, governments must continue to collect and process incident data, work to create target decks of ransomware developers, criminal affiliates, and ransomware variants, as well as share information with relevant stakeholders promptly. This article continues to discuss the RTF and the importance of data sharing in defending against ransomware. 

Decipher reports "Ransomware Task Force: Data Sharing Needed to 'Build a Clear Picture'"