'Ransomware Task Force': Microsoft, McAfee and Rapid7 Coalition

 

19 tech companies, cybersecurity firms, and non-profits have collaborated with the Institute for Security and Technology (IST) to form a new group called "The Ransomware Task Force" (RTF) to tackle the increasingly destructive and prevalent threat of ransomware. The joint venture includes big names such as Microsoft, McAfee, Rapid7, Cybereason along with other cyber advocacy groups, threat intelligence, think tanks, and research groups – The Global Cyber Alliance, The Cyber Threat Alliance, and The CyberPeace Institution, to name a few. 
 
The primary focus of The Ransomware Task Force will be to provide security against Ransomware attacks by engaging various stakeholders in assessing technical solutions and identifying loopholes in already existing solutions. The idea is to work collectively on building a roadmap to address the scope of the threat based on an 'industry consensus' instead of relying upon individual suggestions.  
 
The founding members came together to combat a form of cybercrime that they believe is expansive in its scope and has led to violent consequences that go beyond economic ruination. Actively addressing the threat of ransomware while providing clear guidance will effectively diminish the varying levels of the ransomware kill chain. Other founding partners include Aspen Digital, Citrix, Resilience, SecurityScorecard, The Cybersecurity Coalition, Stratigos Security, Team Cymru, Third Way, UT Austin Stauss Center, Shadowserver Foundation. The website for The Ransomware Task Force inclusive of full membership and leadership roles will be rolled out in January 2021.  
 
While giving insights, the Institute for Security and Technology, one of the founding members, said, “The RTF’s founding members understand that ransomware is too large of a threat for any one entity to address, and have come together to provide clear recommendations for both public and private action that will significantly reduce the threat posed by this criminal enterprise,”
 
As per Sam Curry, one of the founding members of RTF and Chief Security Officer at Cybereason, "Time and time again, we see ransomware capabilities deployed early in hacking operations but not immediately detonated,"  
 
"In these cases, the ransomware is detonated only after preliminary stages of the attack are finished across all compromised endpoints to achieve maximum impact on the victim. Reducing hackers' attempts to amplify the impact of ransomware attacks will drive down ransomware costs for the victim and decrease the victim's inclination to pay ransom demands."