International Counter-Ransomware Initiative
40 countries to sign a agreement not to pay ransom

40 countries will sign a pledge to stop paying ransoms demanded by cybercriminal groups at the International Counter-Ransomware Initiative summit in Washington, D.C.

Anne Neuberger, Deputy National Security Adviser for Cyber and Emerging Technology at the White House, suggested that this initiative is a response to the increasing global threat of ransomware attacks. She stated that the United States has been targeted in around 46% of these incidents.

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Starting Wednesday, international discussions during the summit will also focus on strategies to block the funds used by ransomware groups to finance their operations, Reuters first reported.

“Ransomware is an issue that knows no borders,” Anne Neuberger, the White House’s deputy national security adviser for cyber and emerging technology, told reporters during a briefing on Monday. “And as long as there’s money flowing to ransomware criminals … the problem will continue to grow.”

The Counter-Ransomware Initiative is taking steps to enhance its members’ ability to combat these attacks, in addition to its no-ransoms pledge.

Members of the initiative will use artificial intelligence to analyze blockchains — immutable digital ledgers of payment activity — to help identify ransomware payments flowing through cryptocurrency platforms. They will also maintain a shared blacklist of ransomware gangs’ cryptocurrency wallets, making it easier for members to identify illicit payment flows and alert their domestic cryptocurrency firms to block or freeze those transactions. And members will pledge to help each other respond to any ransomware attacks affecting government agencies or vital sectors like health care, energy and communications.

Two new information sharing platforms will help members exchange data about ransomware operators, their tools, and techniques. Lithuania operates one platform, while Israel and the United Arab Emirates jointly run the other. The platforms serve different purposes and countries are encouraged to use the one they prefer. The U.S. expects each country to share at least one threat information every week.