A global conference is set up to address cybercrime threats

Following the White House’s announcement to host officials from 37 countries and 13 companies, a global conference to address the growing global threat of cybercrimes will take place in Washington. Based on the announcement, included in the topics to be discussed are ransomware, illegal use of cryptocurrency, and more.

For this year’s conference, many countries are expected to attend the in-person event after last year’s virtual inaugural meeting of the informal Counter-Ransomware Initiative. Seven more countries have also been added, which brings further diversity to the group of officials invited to the said event.

 

The global conference aims to establish a set of cyber norms from all participating countries to combat cybercrimes.

 

Participating officials from around the globe are expected to institute excellent standards in countering cybercriminal threats, specifically ransomware, which accounts for a massive loss in profit for many organisations.

A joint statement will be published by the end of the conference, covering their pledge to augment efforts to bring pressure on countries that protect and support ransomware threat actors, including Russia. Solid plans will be established following the global conference, which aims to disrupt all cyberattacks, establish a legal response to illicit cryptocurrency transactions, and build cyber resilience among all organisations.

The White House reiterated that the efforts to ensue after the global conference must result in a harder time for cybercriminals to execute attacks.

The past years have seen a significant uptick in ransomware attacks against organisations worldwide, with more than 4,000 attack operations from different countries over the last year alone. Nonetheless, signs of progress are also noted regarding the seizure of all involved cybercriminals.

Countries expected to participate in the global conference include the US, Australia, Austria, Belgium, Brazil, Britain, Bulgaria, Canada, Croatia, Czech Republic, the Dominican Republic, Estonia, Europe, France, Germany, India, Ireland, Israel, Italy, Japan, Kenya, Lithuania, Mexico, the Netherlands, New Zealand, Nigeria, Norway Poland, South Korea, Romania, Singapore, South Africa, Spain, Sweden, Switzerland, Ukraine, and UAE.

According to the White House, the countries known for supporting threat groups will not attend, such as Russia and Belarus, among others.

Many security firms have also been invited to share expertise in combating cybercrimes, including Mandiant, Crowdstrike, Microsoft, and more.