Group of 19 security firms launches Ransomware Task Force

A group of leading industry names such as Microsoft and McAfee has launched a Ransomware Task Force to help in the fight against ransomware attacks.

The new group will work on assessing already existing technical solutions that provide some form of protection during a ransomware attack.

All 19 members of the group will create a roadmap to the solution, and will also do the following:

  • Pinpoint the gaps in the current solutions
  • Commission expert papers on the topic
  • Engage stakeholders across industries

Once the Ransomware Task Force achieves its goals, a standardised framework should be created that is suitable for handling ransomware attacks across verticals.

However, instead of building it based on individual advice received from lone contractors, it will be based on an industry consensus.

The team of 19 founding members consists of a wide range of industry experts:

  • Microsoft
  • McAfee
  • Aspen Digital
  • Shadowserver Foundation
  • Third Way
  • UT Austin Stauss Center
  • The Cyber Threat Alliance
  • Cybereason
  • The Cybersecurity Coalition
  • Venable LLP
  • SecurityScorecard
  • The CyberPeace Institute
  • Team Cymru
  • Rapid7
  • Citrix
  • Resilience
  • The Institute for Security and Technology
  • Stratigos Security
  • The Global Cyber Alliance

Ransomware is currently not the form of cyber-attack that leads to the largest financial losses to businesses each year, and it is not the most widespread form of malware in general.

According to the FBI, that title goes to BEC scams.

Still, ransomware attacks are becoming increasingly more common.

The Institute for Security and Technology stated that ransomware “transcends sectors and requires bringing all affected stakeholders to the table to synthesize a clear framework of actionable solutions, which is why IST and our coalition of partners are launching this Task Force for a two-to-three month sprint”.

The Ransomware Task Force website is going live in January 2021.