announcements

IST joins the Public-Private Sector Advisory Panel of the Counter Ransomware Initiative

October 3, 2024 – This week, IST was honored to participate in the 2024 International Counter Ransomware Initiative (CRI), the fourth annual gathering of the world’s largest partnership to combat the threat of ransomware on a global scale. In our third year of participation, we are pleased to share that we are a member of the newly-launched Public-Private Sector Advisory Panel and to have joined fellow Advisory Panel members in formally addressing CRI members about the value of collaboration with industry in meeting the urgent need to combat ransomware. 

Over seventy member states and entities, including the European Union, the Organization for American States, and INTERPOL, gathered in Washington, D.C. this week to reaffirm their shared commitment to bolstering collective resilience to ransomware, to update fellow CRI members on progress made over the last year, and to share best practices with one another. As IST’s Ransomware Task Force emphasized in its inaugural report in 2021, “Ransomware has become too large of a threat for any one entity to address; the scale and magnitude of this challenge urgently demands coordinated global action.” This year’s International Counter Ransomware Initiative saw important steps toward achieving the RTF’s call for coordinated global action against the threat of ransomware. 

With the leadership of Canada, the CRI launched a Public-Private Sector Advisory Panel, which brings together representatives from the private sector and civil society to support CRI member states and entities. The Advisory Panel aims to support the objectives of the CRI by “catalyzing effective information sharing, building trust through clear expectations and person to person collaboration, and developing best practices for navigating practical hurdles”—themes articulated earlier this year in “Public-Private Partnerships to Combat Ransomware,” IST’s report produced in collaboration with the Global Forum on Cyber Expertise. IST looks forward to providing advice, guidance, and recommendations to CRI members over the course of the next year. We extend our sincere gratitude to the Government of Canada for its leadership in driving this critical initiative. 

At this year’s International Counter Ransomware Initiative, IST Chief Strategy Officer and RTF Executive Director Megan Stifel joined fellow Advisory Panel members for the announcement of the Advisory Panel’s establishment and highlighted the value of private sector engagement to all CRI members.  

Under the leadership of the United States, the CRI also introduced a new fund that seeks to provide rapid assistance to CRI member countries in the wake of a cyber attack, as well as targeted support that improves their cybersecurity skills, policies, and response procedures in the long term. This action aligns with Action 4.2.2 of the RTF’s original 48 recommendations, “Create a Ransomware Response Fund to support victims in refusing to make ransomware payments,” IST looks forward to aiding with the creation of this fund and ensuring that it can effectively, sustainably support CRI member states in their commitment to not pay ransomware extortion demands. 

Lastly, IST welcomed the opportunity to host a panel on capacity-building for CRI members, focused on information sharing in the ransomware payment ecosystem. 

IST and the Ransomware Task Force continued to provide research, analysis, and support to CRI members over the last year, and we look forward to continuing our support of this important work. Congratulations to the Chairs of this year’s gathering:  Nigeria and Germany for the Diplomacy and Capacity Building Pillar; Australia and Lithuania for the ICRTF; and Singapore and the United Kingdom for the Policy Pillar.