White House Pledges Major Deliverables at Ransomware Summit

The White House is launching a weeklong series of events focused on tackling global ransomware attacks, with a top federal cyber official promising “significant, major new deliverables” to address the rising threats.

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The International Counter Ransomware Initiative kicked off its fourth annual summit Monday in Washington, bringing together representatives from 68 member nations to address recent high-profile attacks and collaborate on new strategies and yearly commitments. Deputy National Security Adviser Anne Neuberger called the group “the largest and most successful cyber partnership in the world” during a Sunday media briefing, highlighting the addition of 18 new members, including Argentina, Morocco, the Philippines, and Vietnam.

The only rule to join the club “is that countries have to sign up to the principles of CRI with regard to not offering haven to actors and participating as responsible state actors in cyberspace,” Neuberger said.

The summit comes as ransomware groups are on pace to set another record in 2024, with attacks becoming increasingly frequent and sophisticated despite fewer victims reportedly paying ransoms (see: Ransomware Again on Track to Achieve Record-Breaking Profits). While last year’s summit ended with a key pledge from members not to pay ransoms, administration officials say this year’s focus will shift to providing victim support, establishing counter-ransomware funds and strengthening supply chain cybersecurity initiatives.

The initiative will reportedly unveil a new counter-ransomware fund administered by the U.S. Agency for International Development, backed by the private sector and CRI members, along with providing victim guidance for organizations facing ransomware attacks. The summit will also spotlight artificial intelligence, dedicating an entire day to how the emerging technology is both enabling cybercriminals and enhancing defensive strategies.

The CRI has doubled in size since it was first launched in 2021, while ransomware attacks targeting governments and the private sector across the globe have also surged, becoming more frequent and sophisticated in their execution. Officials confirmed over 4,500 ransomware attacks in 2023, according to Laura Galante, director of Cyber Threat Intelligence Integration Center for the Office of the Director of National Intelligence.

This year has already seen over 2,300 attacks, she added.

The National Security Council and CRI did not immediately respond to requests for comment.

The fast-growing size of the CRI demonstrates how important ransomware defense is worldwide “and that countries are recognizing the importance of intelligence sharing,” according to Allan Liska, an intelligence analyst of the network security firm Recorded Future.

“Stepping up law enforcement activity is having an impact, even if it doesn’t always seem like it,” Liska told Information Security Media Group, noting that many operators are located in Russia and can’t be arrested “but the success of ransomware has attracted people outside of Russia to the ransomware ecosystem.”

“Law enforcement actions have resulted in more than 20 arrests this year alone” related to ransomware campaigns, Liska said.