US reportedly finalizing ransomware response policy

New policy detailing appropriate ransomware response efforts among governments is reportedly being finalized by the Biden administration in a bid to advance collective action in curbing ransomware payments, Reuters reports. The White House will also be introducing efforts to strengthen ransomware intelligence sharing between countries at the upcoming International Counter Ransomware Initiative meeting to hone in on threat operations and accounts used for ransomware proceeds, according to a senior administration official close to the matter. "We're committing to sharing bad wallets wallets that are used to move illicit ransom funds as well as a number of other related projects," said the official. Fifty countries around the world have already joined ICRI, which also includes the European Union and the Interpol as its members. "We have to work to ensure that all the digital connectivity we rely on for our citizens is secure," the official added.