Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Russia excluded from 30-country meeting to fight ransomware and cyber crime

Published 10/13/2021, 05:11 AM
Updated 10/13/2021, 08:21 AM
© Reuters. FILE PHOTO: A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1,  2017. REUTERS/Kacper Pempel/File Photo

By Nandita Bose

WASHINGTON (Reuters) -Russia was not invited to attend a 30-country virtual meeting led by the United States that is aimed at combating the growing threat of ransomware and other cyber crime, a senior administration official said.

Many ransomware gangs operate from Ukraine and Russia, private sector cybersecurity experts say. Some U.S. officials and analysts have said Russian ransomware gangs operate with the Kremlin's tacit approval, but are not directly controlled by the government.

The meeting will be held over two days, involve six sessions and include topics such as addressing the misuse of virtual currency to launder ransom payments, prosecuting ransomware criminals, using diplomacy to counter ransomware, and helping nations become more resilient to such attacks, the administration official said.

Along with the United States, India, Australia, Germany and the United Kingdom will lead discussions on topics such as disruption, virtual currency and diplomacy. Others joining the meeting include Canada, France, the United Kingdom, Brazil, Mexico, Japan, Ukraine, Ireland, Israel, South Africa, the European Union.

"We are having active discussions with the Russians, but in this particular forum they were not invited to participate," the senior administration official said, adding this does not preclude Russia from participating in future events.

The official said the United States engages directly with Russia on the issue of ransomware under the US-Kremlin Experts Group, which is led by the White House and has been established by President Joe Biden and Russian President Vladimir Putin.

The official said discussions with Russia are ongoing, the U.S. has shared information on specific criminal actors within Russia and that the country has taken initial steps to address the issues being raised.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Addressing the opening session of the meeting on Wednesday, U.S. National Security Advisor Jake Sullivan said the meeting shows governments of participating countries recognize the urgency of the threat of ransomware.

"We view international cooperation as foundational to our collective ability to deal with the ransomware ecosystem, to hold criminals and the states that harbor them accountable, and to reduce the threat to our citizens in each of our countries," he said.

President Joe Biden has elevated the response to cybersercurity to the most senior levels of the administration following a set of attacks this year that threatened to destabilize U.S. energy and food supplies.

Hackers caused fuel disruptions in the eastern United States in May when they targeted a pipeline run by Colonial Pipeline. Sullivan said the U.S. Department of Justice recovered more than $2 million of ransom paid to criminal actors who attacked the pipeline company.

The Biden administration hopes that their new informal group, which they are calling the Counter-Ransomware Initiative, will bolster their diplomatic push that has included direct talks with Russia as well as the NATO alliance and Group of Seven wealthy nations.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.