USA, together with a group of 48 countries, the European Union, and Interpol, announced the refusal to pay ransoms in the case of cyber attacks as part of the International Counter Ransomware Initiative (CRI). The initiative aims to terminate the financing of extortionists.
The group, including the USA, discussed new approaches to fighting cybercrime during the initiative. These approaches involve the use of artificial intelligence and analysis of blockchain-data. The participants also agreed to create a specialized platform for the exchange of information between the countries involved.
Significant progress was made in the development of a joint policy. This policy includes the exchange of lists of blocked cryptocurrency wallets associated with ransomware attacks. Despite challenges in coordinating international efforts and conflicting opinions on paying ransoms, the participants deemed such payments unacceptable. This marks a significant step in the struggle against the spread of cybercrime.
Reports indicate a growing number of ransomware incidents, with a 153% increase compared to last year. In response, international law enforcement agencies have intensified cooperation. This cooperation has already resulted in successful operations against large hacker groups and cybercrime services, including the notorious HIVE group and Darknet-market Genesis.
To develop a ban on paying ransoms, the participants of the initiative will investigate ways to hold other countries accountable for ignoring the rules or promoting extortionists. The participating countries will also share information and take actions against campaigns utilizing ransomware in their territories.