A global coalition to fight the ransomware pandemic

The International Criminal Police Organization has expressed concerns about the ransomware pandemic in recent months. So, according to Interpol, these attacks present a “potential ransomware pandemic.” It happens because they are not just damaging to companies and their employees, but also disrupt government services.

According to Jürgen Stock, Interpol secretary general, “ransomware has become too large of a threat (…) to address alone.” Therefore, it demands “united global action.”

Ransomware as a service makes it a pandemic

Cybercriminals face the threat of more government action against illicit online activity. So, according to Interpol, villains have shifted to providing ransomware as a service.

In June, a cyberattack shut down the nation’s largest fuel distribution network for days. Then, another attack on a meatpacker netted its attackers $11 million. Moreover, in July, ransomware attacks against the tech company Kaseya affected more than 1,000 customers.

The Ransomwhere website tracks payments to ransomware attackers. Thus, they concluded that Revil is the most lucrative ransomware-as-a-service platform.

Thus, the group demanded $70 million to provide a universal decryption tool for Kaseya. But they managed to receive $11.3 million in bitcoin payments, this year alone.

This is a “top priority”

Moreover, U.S. President Joe Biden spoke with Russian President Vladimir Putin about the threat of cybercrime. So, he told his Russian counterpart that cyber attacks on critical infrastructure and financial systems should be a “top priority.”

Biden seems very determined. He answered for Reuters with a “yes” when asked about a possible US attack against the servers used in ransomware attacks.

At this point, Interpol is looking to partner with both private security companies and government agencies. So, their aim is to reduce the impact of the ransomware pandemic in the future.

Also, Stock mentioned that effective prevention and disruption of ransomware means adopting the same international collaboration used to fight mafia groups.