U.S. Partners with Israel to Fight Ransomware Attack

The US Treasury said on Sunday that it would partner with Israel to fight ransomware and launch a joint task force to tackle cybersecurity.

The Treasury said the Task Force will create a memorandum of understanding to help share information related to the financial sector, such as cybersecurity regulations and threat intelligence.

The announcement follows a virtual conference on ransomware held at the White House in October with more than 30 countries, including the European Union and Israel.

Deputy Secretary of Finance Wally Adeyemo called for international cooperation to address cryptocurrency abuse and disrupt the ransomware business model.

The partnership follows steps taken to counter the surge in ransomware that has hit major US companies, including an attack on the largest fuel pipeline in the United States that has disrupted fuel supplies for several days.

A broader US-Israel task force was also launched on Sunday to address issues related to fintech and cybersecurity, according to the Treasury.

Mr Adeemo met with Israeli Treasury Minister Avigdor Lieberman and Israeli Secretary of State Cyber ​​Bureau Igal Unna on Sunday to establish a bilateral partnership, the ministry said in a statement.

Earlier this month, the US Department of Justice charged Ukrainian citizens and Russians with one of the worst ransomware attacks on US targets.

Kanishka Singh