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International: White House issues joint statement following ransomware initiative meeting

The White House issued, on 14 October 2021, a joint statement with world Ministers and Representatives following the ransomware initiative meeting held on 13 and 14 October 2021. In particular, the statement highlights that ransomware is an escalating global security threat with serious economic and security consequences, where ransomware poses a significant risk to critical infrastructure, essential services, public safety, consumer protection and privacy, and economic prosperity. As such, the statement expressed the need for urgent action, common priorities, and complementary efforts to reduce the risk of ransomware, where efforts will include: 

  • improving network resilience to prevent incidents when possible and responding effectively when incidents do occur; 
  • addressing the abuse of financial mechanisms to launder ransom payments or conduct other activities that make ransomware profitable; and
  • disrupting the ransomware ecosystem via law enforcement collaboration to investigate and prosecute ransomware actors, addressing safe havens for ransomware criminals, and continued diplomatic engagement.

You can read the joint statement here.