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White House launches second international ransomware summit • The Register

The White House has begun its second annual International Counter Ransomware Summit, where Biden administration officials will meet with representatives from three dozen nations, the EU and private companies to discuss the growing threat of data-destroying cyberattacks.

According to government officials previewing the summit over the weekend, the two-day event will focus on priorities like improving system resiliency and developing better plans to disrupt ransomware actors in the planning stages of digital attacks.

The Biden administration said it was motivated to hold a second summit following last month’s ransomware attack on Los Angeles schools, underscoring the urgency of the ransomware threat.

In addition to the EU and its member states, participants at the summit include Mexico, the Republic of Korea, several African nations, Ukraine, the United Kingdom, Japan, Israel and others. Crowdstrike, Mandiant, Microsoft and other technology companies with security concerns will also be in attendance, as will FBI Director Christopher Wray, National Security Advisor Jake Sullivan and other department heads.

President Biden is not expected to attend.

ransomware everywhere

Those who spend a lot of time watching the tech world know that ransomware is a ubiquitous threat that’s constantly in the headlines.

Even though ransomware numbers have been declining this year, there’s still not a lot of good news. Despite being below 2021 highs, the number of ransomware attacks overall for the first nine months of 2022 is higher than any year on record, and we still have a quarter of the follow-up to consider.

President Bident signed into law a tougher cybercrime reporting law earlier this year, requiring reporting within 72 hours of detecting a breach and establishing a national incident reporting system, among other new rules, and this could not come at a better time.

According to statements by the Biden administration this weekend, the US government is concerned that ransomware attacks are outstripping the government’s ability to stop them, which it cited as another reason for holding the second summit.

Last year’s International Counter Ransomware Summit took place online in mid-October, and as you would expect from such high-level international summits, much of what was discussed came off as platitudes.

In 2021, the international group agreed to develop a framework for the international exchange of ransomware information, improve anti-money laundering models, and engage in international diplomatic efforts to discourage countries from allowing ransomware operators to operate within their Operate borders, which has worked great so far. ® White House launches second international ransomware summit • The Register

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