The United States forms a new partnership with Israel to fight ransomware

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The Biden administration formed a new partnership with Israel to fight ransomware attackers and defend the critical infrastructure underlying modern life in both countries.

The Treasury Department said it will work as part of a new US-Israel task force on financial technology (fintech), innovation and cybersecurity to define how the two countries will cooperate differently now.

“Harnessing both the power of international cooperation and technological innovation will enable us to support economic competitiveness, prosperity and combat global threats, including ransomware,” Deputy Treasury Secretary Adewale “Wally” Adeyemo said in a statement. . “As the global economy recovers and ransomware and other illicit financial threats pose a major challenge to Israel and the United States, increased information exchanges, joint work and collaboration on policy, regulation and enforcement are critical to our economic and national security goals. “

Mr. Adeyemo announced the partnership during a trip to Israel duration from Saturday to Monday. The Treasury Department official met with Israeli officials and fintech and cybersecurity entrepreneurs and discussed national security priorities such as Iran and countering terrorist financing during his visit, according to the Treasury Department.

The Treasury Department said the burgeoning task force is developing a deal on how the United States and Israel will define the acceptable sharing of information relating to the financial sector, in particular on cybersecurity and threats.

The upcoming MoU also intends to detail how countries will better practice the “cross-border cybersecurity exercises” that surround global financial institutions.

The Biden administrationthe announcement of its partnership with Israel it’s part of its broader focus on relying on international collaboration as a solution to ransomware attackers and hackers that have hit medical facilities, schools, and businesses with abandonment as the COVID-19 pandemic has pushed more people online.

The administrationThe approach to fighting ransomware will receive a new review by Congress on Wednesday, when a Subcommittee on Homeland Security examines the efforts of the Department of Homeland Security with input from U.S. Secret Service and Cybersecurity officials. Infrastructure Security Agency.

Word of the new federal government work with Israel It also comes in the wake of the Commerce Department’s addition of Israeli technology and spyware company NSO Group to its Entity List earlier this month.

The Entity List is a blacklist of foreign individuals and businesses facing restrictions on their activities in the United States due to national security concerns.

The NSO Group crackdown came after revelations that the company has sold a product that allows people to access a smartphone user’s messages, camera and microphone without the action of the victim user, according to the Project. Pegasus, an investigation organized by the Forbidden Stories newspaper.

The NSO group previously said they wanted to push the Biden administration to overturn his decision.

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