CRI urges stronger supply-chain cyber defenses

The International Counter Ransomware Initiative urged companies to strengthen software supply-chain defenses against ransomware, releasing new guidance after its fifth annual summit in Singapore, according to The Record, a news site by cybersecurity firm Recorded Future.

Developed by the U.K. and Singapore, the recommendations highlight supply-chain vulnerabilities as key risks that organizations must address through stronger cyber hygiene and coordinated global action. Britain's Security Minister Dan Jarvis warned that ransomware poses an "immediate and urgent threat" to national security and economic stability, calling on businesses to prioritize cybersecurity.

Established by the U.S. in 2021, the CRI now includes 61 countries and six international organizations. Although the coalition has made progress in reducing ransomware payments, Chainalysis reported a 35% drop in 2024, attacks continue to disrupt major companies worldwide.

Critics in the U.K. have also raised concerns about legislative gaps that leave systems exposed. The CRI meeting coincides with Britains plan to sign the UN Convention against Cybercrime this weekend in Vietnam.