Global war on Ransomware

Will the global war on ransomware ever happen? Cyber Security remains to be the number one national security threat for the US since 2014 and by extrapolation for the world. A world which is a mosaic of countries existing for a variety of reasons, can they ever possibly understand a threat of this nature and respond accordingly. We have seen this happening in reaction to the Pandemic by any number of countries, till the time it got the better of us and we are still struggling with it. Over 30 countries have pledged to fight ransomware attacks in a US led global meeting. The US, the European Union and 30 other countries have understood the risk of ransomware and have decided to harden the financial system from exploitation with the goal of disrupting the ecosystem.

What does ransomware impact? From malign operations against local health providers that endanger patient care, to those directed at businesses that limit the ability to provide fuel, groceries, or other goods to the public, ransomware poses significant risk to critical infrastructure, essential services, public safety, consumer protection and privacy and economic superiority. FinCEN has tied $5.2 billion worth of outgoing Bitcoin transactions to 10 most commonly reported ransomware variants. In the first half of 2021 alone, ransomware-based financial activity is estimated to have channelized $590 million for the threat actors. The most commonly reported variants were REvil (aka Sodinokibi, Conti, Darkside, Avaddon, and Phobos.

Today's Headline in NewsHours
0:00 Intro
2:49 #Databreach at India’s biggest De-mat depository CDSL
3:37 #A new Android malware can gain Root access to your smartphones
4:28 #BRIGHTCOVE acquires HAPYAK best-in-class technology from Newsela
5:13 #Thales Alenia to build Indonesian space satellite
5:56 #CyberCriminals Robbed UAE Bank Of Over Rs 200 Cr By deepfaking Boss’s Voice

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