officials in recent months have ramped up their efforts to disrupt ransomware groups, expanding the government’s ability to track cryptocurrency and seize illicit funds. “We also recognize the challenges some jurisdictions face in developing frameworks and investigative capabilities to address the constantly evolving and highly distributed business operations involving virtual assets,” officials from the summit said in their statement Thursday. Cybersecurity experts say international collaboration will be key to slowing criminal groups that often operate across borders and with relative impunity in countries such as Russia.Read more of this story at Slashdot.The officials pointed to standards created by the Financial Action Task Force, an initiative from the Group of Seven countries, but acknowledged their “uneven global implementation.” The Counter-Ransomware Initiative convened by the White House this week called on countries to use such techniques alongside more aggressive enforcement of anti-money-laundering and know-your-customer rules that prevent cryptocurrency companies from facilitating such transactions. Law-enforcement officials are sometimes able to track crypto payments made by such victims, which can reach into the millions, across a public ledger known as a blockchain. critical infrastructure, disrupting the East Coast(TM)s largest gas pipeline in May and a major meat processor in June.
Hacking groups have increasingly targeted U.S. oeWe are dedicated to enhancing our efforts to disrupt the ransomware business model and associated money-laundering activities, the representatives said in a joint statement Thursday. Consistent international scrutiny of cryptocurrencies will be key, the officials said, as ransomware groups that extort victims for digital payments can quickly transfer the funds to countries with lax standards for monitoring illicit transactions. But the Wall Street Journal also reports the officials (who met virtually this week) blame another factor in the boom of ransomware: "uneven cryptocurrency standards."The representatives pledged to share information about cyberattacks and investigations, push firms to shore up security, and disrupt the financial infrastructure of a criminal hacking economy that has flourished in recent years. As with other cyber threats, the threat of ransomware is complex and global in nature and requires a shared response. Officials from 32 countries "recognize that ransomware is an escalating global security threat with serious economic and security consequences," according to a statement issued Thursday:From malign operations against local health providers that endanger patient care, to those directed at businesses that limit their ability to provide fuel, groceries, or other goods to the public, ransomware poses a significant risk to critical infrastructure, essential services, public safety, consumer protection and privacy, and economic prosperity. This is pampering" - Governor Ayade's aide reacts to viral photo of a mother carrying her son's locker to school - Linda Ikejiġ9 And Dangerous' Is A Classic People Won't Forget, Says Ayra Starr - Channels TVĢ023 Election: We Are Yet To Print PVCs For Newly Registered Voters - INEC - ToriĢ023 Elections: Atiku Takes Campaign To US - ToriĢ023 Results Will Be Transmitted In Real-time To Viewing Portal On Election Day - Tori Click to view all Entertainment headlines today "It still feels like a nightmare" - Man laments after his girlfriend dumped him for another man, accuses rival of using charms to snatch her from him - Linda Ikeji "I lost 2 billion in one day and I'm still alive" Kanye West speaks about brands cutting ties with him as he jokes that he has cut ties with himself too - Linda Ikeji "Excruciatingly painful" Actor Okon Lagos asks for prayers as he announces his mother's funeral arrangement - Linda Ikeji
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