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Fight against ransomware. Is it time for the international community to start speaking the same language?
The ability to repel ransomware attacks has become a priority for both the public and private sectors. At the same time, the transnational nature of cybercrime requires responsive measures of specific countries to be complemented by the international collaboration. This is the conclusion reached by the participants of Cyber Polygon 2021.
Craig Jones, Cybercrime Director at INTERPOL, says phishing and the use of ransomware viruses are on the rise because vulnerability-wise, the landscape is changing. The pandemic has offered new opportunities for cybercriminals, insofar it concerns exploiting vulnerabilities, the scale is growing, while security techniques and procedures have remained the same.
Governments across the world should work more collaboratively to solve this problem. As an example, Craig Jones cited the attack on the Colonial Pipeline in the United States, which led to losses not only in the domestic market, but also interrupted supplies to other states.
According to Teresa Walsh, Global Head of Intelligence at FS-ISAC, cyberattacks are fraught with reputational risks. Customers personal data leaks can taint the image of organizations; therefore, the latter prefer to keep such incidents unreported.
Michael Daniel, President and CEO, Cyber Threat Alliance, said hackers are well-developed criminal organizations with their own infrastructure and specializations, in fact, they are an organized ecosystem. Now that we are faced with a revolution, where a huge number of devices are connected to the Internet, cybercrime, therefore, can bring much more chaos into our lives than before.
Craig Jones believes that international regulation at this stage is not enough for the level of cybercrime. The popularity of cryptocurrencies led to the spread of ransomware. Therefore, cryptocurrencies need to be incorporated into a wider international financial structure. This will reduce the number of safe locations for cybercriminals.