A group of 19 security, technology and non-profit companies, led by big names such as McAfee and Microsoft, have announced plans to form a new coalition to deal with the growing threat of ransomware.
The new group, called Ransomware Task Force, focuses on evaluating existing technical solutions that provide protection during malicious ransomware attacks.
The Ransomware Task Force assigns experts, engages stakeholders across industries, identifies gaps in existing solutions, and then works on a common roadmap to address issues among all members.
The end result should be a unified framework for handling cross-sector ransom demand attacks that relies on industry consensus rather than individual advice received from individual contractors.
Along with McAfee and Microsoft, the founding members reflect the group’s desire to create a diverse team of experts:
- Aspen Digital (policy making group).
- Citrix (Network Equipment Vendor).
- Cyber Threat Alliance (a group for the cybersecurity industry).
- Cybereason (security company).
- CyberPeace Institute (a non-profit organization dedicated to helping victims of cyberattacks).
- Cyber Security Alliance (Policy Making Group).
- Global Cyber Alliance (a non-profit organization dedicated to reducing cyber risks).
- Institute for Security and Technology (Policy Making Group).
- McAfee (security company).
- Microsoft (security company).
- Rapid7 (security company).
- Resilience (electronic insurance provider).
- SecurityScorecard (Risk Management).
- Shadowserver Foundation (a non-profit security organization).
- Stratigos Security.
- The Cymru Team (Cyber Threats).
- Third Way (think center).
- UT Austin Stauss Center (research group).
- Venable LLP (law firm).
Ransomware is not currently the most prevalent form of malware, and it has not caused the largest financial losses to companies each year.
However, it remains a major threat and is trending higher, with ransom demands increasing from one quarter to the next.
“We see the need for a multi-layered, multi-sectoral approach,” said Philip Reiner, a former National Security Council official and chief executive of the Institute for Security and Technology, who created the new group.
He added: Ransomware requires the cooperation of all those affected in order to provide a clear framework for actionable solutions.
The Ransomware Task Force site, which includes full membership details and leadership roles, is supposed to launch in January 2021.