Security Companies, Tech Companies And Non-Profits Formed The 'Ransomware Task Force'

Ransomware attacks are some of the most annoying attacks the cyberspace can experience.

Not only data can be stolen, as the data can also be hold as ransom, with the threat actors threatening victims to pay a sum of money or otherwise have their data lost forever.

In the past, threat actors have caused serious disruptions by sending ransomware attacks to hospitals, school districts and city government networks. Because the actors know that data matters and people can do almost anything to recover them, ransomware attacks won't be going away anytime soon.

But the Ransomware Task Force wants to change that.

Also called the 'RTF', the coalition is created by 19 security firms, tech companies, and non-profits. RTF has a goal of dealing with the rising threat of ransomware attacks across the globe.

Ransomware.

Ransomware at this time, is neither the most widespread form of malware nor the type of cyberattack that causes the largest financial losses to victims. But still, some ransomware attacks can be so devastating that damage can cost millions of dollars.

What's more, the number of attacks have increased globally from quarter to quarter.

Traditionally, ransomware attacks victims ask for security experts to help them solve their ransomware issue. Unfortunately for victims, experts or companies they ask for help may offer different advise or solutions.

The RTF instead gathers expert papers on the topic, engage stakeholders across industries, identify gaps in existing solutions, and then work on a common methods to address issues.

In other words, the solutions should be based on industry consensus rather than individual experts.

Through this approach, RTF also aims to create a standardized framework for responding to ransomware attacks across various verticals.

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According to The Institute for Security and Technology (IST) in a blog post:

"The RTF’s founding members understand that ransomware is too large of a threat for any one entity to address, and have come together to provide clear recommendations for both public and private action that will significantly reduce the threat posed by this criminal enterprise."

Founding members include:

  1. Aspen Digital (policy maker group).
  2. Citrix (networking equipment vendor).
  3. The Cyber Threat Alliance (cybersecurity industry sharing group).
  4. Cybereason (security firm).
  5. The CyberPeace Institute (non-profit dedicated to help victims of cyberattacks).
  6. The Cybersecurity Coalition (policy maker group).
  7. The Global Cyber Alliance (non-profit dedicated to reducing cyber risk).
  8. The Institute for Security and Technology (policy maker group).
  9. McAfee (security firm).
  10. Microsoft (security firm).
  11. Rapid7 (security firm).
  12. Resilience (cyberinsurance provider).
  13. SecurityScorecard (compliance and risk management).
  14. Shadowserver Foundation (non-profit security organization).
  15. Stratigos Security (cybersecurity consulting).
  16. Team Cymru (threat intelligence).
  17. Third Way (think tank).
  18. UT Austin Stauss Center (research group).
  19. Venable LLP (law firm).