Global Coalition Declares Zero Tolerance for Cyber Ransom Payments

A U.S.-led alliance of 40 countries is set to sign a pledge to never pay ransom to cybercriminals and work towards eliminating their funding mechanism, according to a senior White House official. The International Counter Ransomware Initiative aims to address the growing number of ransomware attacks worldwide, with the United States being the most affected. The alliance plans to enhance information sharing about ransom payment accounts and create two information-sharing platforms. Partner countries will share a "black list" of digital wallets used for ransomware payments, and artificial intelligence will be used to analyze blockchain for identifying illicit funds.