Microsoft, McAfee And Other Security Organizations Form Ransomware Task Force

Microsoft, McAfee and other 17 cyber security firms joined together to tackle cybercrime and form a Ransomware Task Force.

The Institute for Security and Technology (IST) in partnership with a broad coalition of experts in industry, government, law enforcement, nonprofits, cybersecurity insurance, and international organizations including tech security firms Microsoft, McAfee, Rapid7 and Team Cymru have announced to form a new group named Ransomware Task Force (RTF) that provide protections from a Ransomware attack.

Ransomware incidents have been growing unchecked, and this economically destructive cybercrime has increasingly led to dangerous, physical consequences. Hospitals, school districts, city governments, and others have found their networks held hostage by malicious actors seeking payouts. This crime transcends sectors and requires bringing all affected stakeholders to the table to synthesize a clear framework of actionable solutions, which is why IST and our coalition of partners are launching this Task Force for a two-to-three month sprint, said IST blog.

What is Ransomware?

It encrypts your whole system unless a ransom gets paid. After infecting your computer, the malware finds files with JPG, XLS, PNG, DOC and PPT file extensions. These important files are usually images and documents, so there is a chance for the cyber criminals will encrypt your important file that you need.

Following Security firms Joined RTF

1. Aspen Digital (policy maker group)
2. Citrix (networking equipment vendor)
3. The Cyber Threat Alliance (cybersecurity industry sharing group)
4. Cybereason (security firm)
5. The CyberPeace Institute (non-profit dedicated to help victims of cyberattacks)
6. The Cybersecurity Coalition (policy maker group)
7. The Global Cyber Alliance (non-profit dedicated to reducing cyber risk)
8. The Institute for Security and Technology (policy maker group)
9. McAfee (security firm)
10. Microsoft (security firm)
11. Rapid7 (security firm)
12. Resilience (cyberinsurance provider)
13. SecurityScorecard (compliance and risk management)
14. Shadowserver Foundation (non-profit security organization)
15. Stratigos Security (cybersecurity consulting)
16. Team Cymru (threat intelligence)
17. Third Way (think tank)
18. UT Austin Stauss Center (research group)
19. Venable LLP (law firm)

The Ransomware Task Force website, including full membership and leadership roles, will be launched in January 2021, according to the Institute for Security and Technology.