To address the abuse of virtual currency and disrupt the ransom-ware business model, Deputy Secretary of the Treasury Wally Adeyemo asked then for international cooperation
To combat ransom-ware, the U.S. Treasury Department said on Sunday it will partner with Israel, with the two countries launching a joint task force to address cyber-security.
Including cyber-security regulations and threat intelligence, the task force will develop a memorandum of understanding supporting information sharing related to the financial sector, the Treasury Department said.
With the European Union and more than 30 countries, including Israel, the announcement follows a virtual meeting on ransom-ware that held at the White House in October.
To address the abuse of virtual currency and disrupt the ransom-ware business model, Deputy Secretary of the Treasury Wally Adeyemo asked then for international cooperation.
Including an attack on the largest fuel pipeline in the United States that crippled fuel delivery for several days, the partnership follows measures taken to combat a surge in ransom-ware that has struck several big U.S. companies.
To address issues related to fin-tech and cyber-security, a broader U.S.-Israeli task force was also launched on Sunday, the Treasury Department said.
To establish a bilateral partnership, Adeyemo met with Israeli Finance Minister Avigdor Lieberman and Director General of the National Cyber Directorate Yigal Unna in Israel on Sunday, the department said in a statement.
In one of the worst ransom-ware attacks against American targets, earlier this month, the U.S. Justice Department charged a Ukraine national and a Russian.
CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.