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G7 Leaders Call on Russia to Battle Ransomware

Leaders of the Group of 7 (G7) have asked Russia to urgently disrupt the actions of ransomware groups within their country. In the release, G7 leaders also expressed their commitment to work together to address the escalating and immediate threat that ransomware groups pose to the world. “We call on all states to urgently identify and disrupt ransomware criminal networks operating from within their borders, and hold those networks accountable for their actions,” the G7 leaders (from the UK, USA, Canada, Japan, Germany, France, and Italy, plus the EU) said at the G7 Cornwall Summit. This call to action for Russia comes after the White House National Security Council expressed their concern about ransomware and urged companies to take these attacks seriously. Most notably, the G7 warned companies to report ransomware incidents as soon as possible to limit the amount of damage they could cause.

Analyst Notes

The White House outlined many large-scale attacks that have happened in recent months that were believed to be the work of ransomware groups operating out of Russia. Companies should take these threats seriously and have the proper defenses in place to limit these attacks. This includes but is not limited to having monitoring in place such as Binary Defense’s Managed Detection and response which can identify abnormalities within events on workstations and servers to detect when the early warning signs of an imminent ransomware attack is beginning, and stop the attack before major damage takes place.