US pursuing global strategy to curb ransomware

President Joe Biden's administration is hosting officials from dozens of countries to coordinate on an initiative to disrupt ransomware attacks against pipeline owners, utilities, manufacturers and other businesses.

The counter ransomware initiative, set to start today with a virtual meeting at the White House, aims to crack down on the criminal networks behind those attacks while hardening electronic systems around the world against hacking. The administration also wants international cooperation against the "abuse" of virtual currency to handle most ransom payments and to eliminate safe harbors for cyber criminals.

The White House-led initiative comes five months after a cyberattack on the 2.5mn b/d Colonial Pipeline led to widespread fuel shortages across the southeastern US. The administration since then has ordered pipeline operators to bolster their cyber defenses as it works to better protect critical infrastructure.

The virtual meeting will include ministers and senior officials from more than 30 countries and the EU, a senior administration official said, but the US did not invite Russia to join the initial talks this week. Biden this summer told Russian president Vladimir Putin he would hold Moscow responsible for any cyberattacks originating from the country.

By Chris Knight