Published On: Wed, Jul 27th, 2016

Private-Public Partnership Launched to Combat Ransomware

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The public and private sectora are now joining forces to stop ransomware as part of an international initiative to combat cybercrime. Groups participating in the project include Intel Security, Kaspersky Lab, the Dutch National Police and Europol. 
Also read: Lisk Community Continues Developing Ecosystem Tools, Services
International Crackdown on Ransomware
The initiative, called “No More Ransom,” has a simple goal: make it more difficult for cyber criminals to capitalize on ransomware by outsmarting them. The organizers plan on doing this by both offering people decryption keys and advice on how to avoid becoming victims in the first place, thus avoiding having to pay expensive ransoms.
Security researcher with Kaspersky Lab Global Research and Analysis Team, Jornt Van Der Wiel, says that the reason ransomware is so effective is because of the ultimatum it puts people in.
“The biggest problem with crypto-ransomware today is that when users have precious data locked down, they readily pay criminals to get it back,” Van Der Wiel says. “That boosts the underground economy.”
The people behind the “No More Ransom” project think the joint private-public team is necessary because fighting ransomware requires transcending national …

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