Microsoft, McAfee, Others Form Ransomware Task Force

A coalition of tech and cybersecurity companies are launching a new Ransomware Task Force in a bid to combine resources, expertise, and tools to help the IT community prevent and respond to ransomware attacks.

The Institute of Security and Technology (IST) announced the news Monday in partnership with 18 organizations, including Microsoft, McAfee, Citrix and a broad swath of tech firms and cybersecurity organizations.

The Ransomware Task Force will work to provide clear recommendations for both public and private action that will significant reduce the threat of ransomware operators.

According to IST, ransomware incidents are growing unchecked, leading to dangerous consequences. Recently, ransomware operators — who now ask for an average ransom of six figures — have taken to targeting hospitals and schools at a time where those critical institutions are already stretched thin.

In the press release, IST said the task force will be launched for a “two-to-three month sprint.”

The new group will assess existing solutions at all levels of the ransomware kill chain, identify gaps in solutions and create a roadmap of objectives and milestones for high-level decision-makers. To do so, the RTF will commission expert papers and engage experts across industries to unify around vetted solutions.

Here’s the full list of organizations involved as founding partners:

• Aspen Digital
• Citrix
• The Cyber Threat Alliance
• Cybereason
• The CyberPeace Institute
• The Cybersecurity Coalition
• The Global Cyber Alliance
• McAfee
• Microsoft
• Rapid7
• Resilience
• SecurityScorecard
• Shadowserver Foundation
• Stratigos Security
• Team Cymru
• Third Way
• UT Austin Stauss Center
• Venable LLP

According to cybersecurity experts, ransomware attacks are increasing at an alarming rate, impacting both the private and public sector.

One report from Check Point Research has ransomware attacks increasing by 50% in the third quarter of this year when compared to the first half of the year.

The Ransomware Task Force website will be launched next month.