President Joe Biden will meet in person for the first time since taking office with Russian President Vladimir Putin in Geneva on June 16. The ransomware attacks on US organizations will be a core issue for this meeting. Biden suggested earlier this month that he would discuss with Putin the recent ransomware attack on Colonial Pipeline, which led to a shutdown of the country's largest gas pipeline.
The Kremlin has a historical past of working with cybercriminals, and many consultants believe the cyberattacks wouldn’t be taking place without some measure of consent from Putin. US president should demand action from Putin and he should take steps to ensure hackers who target the US, and the governments who facilitate their work or flip a blind eye to it, pay a worth.
"The scale of this problem is one that I think the country has to come to terms with." Fortunately, we're getting the first salvos to help the US and other countries build up defenses (The US isn't the only country struggling with this problem; just last month, Ireland's health services suffered a serious cyberattack). The Biden administration has instructed private companies to bolster their cybersecurity as it designs the government's strategy,” FBI Director Christopher Wray, who likened the problem of the menace to 9/11, informed The Wall Avenue Journal.
The epidemic of ransomware crimes and different hacks is not only an American downside; it is one of many outgrowths of globalization. The US is planning to deal with one other pernicious outgrowth of globalization — the flexibility of companies to keep away from paying taxes, by bringing nations collectively to determine an escape-proof minimal company tax — the Biden administration ought to lead in forging a joint method to transnational cybercrime.
Russia has already interfered with elections in several nations, now its cybercriminals are busy extorting non-public companies and municipalities. But they are hardly alone. The Atlanta ransomware assault, which paralyzed companies and price the town hundreds of thousands, was traced again to Iranian hackers. The New York subway hack has been reportedly linked to Chinese hackers, who are becoming major players in the ransomware field.
Earlier this month, the United States Department of Justice (DOJ) announced that ransomware attacks in America are to be investigated with a similar urgency as incidences of terrorism.
“It’s a specialized process to ensure we track all ransomware cases regardless of where it may be referred in this country, so you can make the connections between actors and work your way up to disrupt the whole chain,” said principal associate deputy attorney general at the Justice Department, John Carlin.