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The Biden Administration is Stepping Up the Fight Against Ransomware

The Biden administration will be announcing new initiatives to increase efforts in disrupting ransomware operations and punish the criminals responsible for them. Among the initiatives is a State Department program offering up to $10 million for information that helps punish threat actors associated with ransomware attacks. The new strategy aims to make it more difficult for ransomware gangs to transfer cryptocurrency, increase international cooperation to combat ransomware and harden the cyber defense posture of US institutions.

Analyst Notes

President Biden has continued discussions with Russian President Vladimir Putin regarding ransomware attacks from gangs that are believed to be operating within Russia. Following the recent Kaseya attack, President Biden told Putin that the US will take any necessary action to defend the US infrastructure. Additionally, top US and Russian officials have been meeting to discuss the current ransomware operations at the request of President Biden. There have been lots of conversations and drafted legislation to combat ransomware in the US, but it is still unclear exactly what the US is willing to do to prevent and stop ransomware. Binary defense analysts will continue to monitor for updates to the initiatives expected to be announced today. In addition to the aforementioned initiatives, the Cybersecurity and Infrastructure Security Agency launched a new website at https://www.cisa.gov/stopransomware, to provide guidance and tips on how to prevent, protect against, and react to a ransomware attack.

https://www.washingtonpost.com/politics/2021/07/15/cybersecurity-202-biden-administration-is-stepping-up-fight-against-ransomware/