Home   »   Daily Current Affairs   »   Joint Statement

Joint Statement by Quad on Ransomware

More on the Statement

  • The Foreign Ministers have announced their decision to act against malicious cyber activity against critical infrastructure.
  • The statement appreciated the progress made by the 36 countries supporting the US-led Counter Ransomware Initiative and the regular, practical-oriented consultations against cybercrime in the Indo-Pacific region.
  • Support to tackle ransomware:
    • The Quad partners have pledged to assist each other in ensuring the security and resilience of regional cyber infrastructure against ransomware.
    • Quad countries have announced their support to regional initiatives to enhance the capacity of countries to implement the UN Framework for Responsible State Behaviour in Cyberspace.
  • Multi-stakeholder approach:
    • They stressed on multi-stakeholder approach for counter-ransomware capacity building, including promoting the role of existing mechanisms such as the Global Forum on Cyber Expertise.
    • The multi-stakeholder approach to internet governance will uphold shared values in the design and use of technologies and cyberspace across the region.
  • Address cybercrime:
    • New treaty: The alliance has welcomed negotiations of a possible new UN cybercrime convention that can address cybercrime more broadly which will have utility in countering ransomware.
    • A new treaty has to be drafted in a technologically neutral and flexible manner, which does not criminalize specific technologies.
QUAD
QUAD

 

Ransomware

  • Ransomware is a type of malware that prevents users from accessing their system or personal files and demands ransom payment to restore access to the user.
  • Ransomware attackers have targeted organisations of all sizes, regardless of their location.
  • The global economic losses from ransomware, especially due to payments reached over USD 400 million globally in 2020.

 

Types of Ransomwares

  • Crypto ransomware: It encrypts the victim’s file and promises to restore access after the payment of certain amount in ransom.
  • Leaking ransomware: Also called leakware, it threatens to publish stolen information from the victim’s computer system rather than deny the victim access to it.
  • Scareware: It is a type of malware tactic that manipulates victims into downloading or buying potentially malware-infested software.
  • Locker ransomware: Locker ransomware shuts down the entire computer or mobile device. Victims have to pay a ransom to release the computer or mobile device.

Ransomware in News:

  • WannaCry, Pettya, SamSam, Ryuk, Lapsus$, Hive, REvil.
Ransomware
Ransomware

Counter Ransomware Initiative

  • International Counter Ransomware Initiative is a US-led group to counter ransomware threats. Under the initiative, discussions on ransomware will be lead by four countries:
    • India – resilience (strengthening resilience to withstand ransomware attacks)
    • Australia – disruption (disrupt ransomware infrastructure and participants)
    • UK – virtual currency (abuse of virtual currency for ransom laundering)
    • Germany – diplomacy (leveraging international cooperation to destroy the ransomware ecosystem and address safe harbours for cyber criminals)
  • UN Framework for Responsible State Behaviour in Cyberspace
    • They are 11 voluntary and non-binding rules that describe what states should and should not be doing in cyberspace.
    • The objectives of the norms are to reduce risks to international peace and security, and to contribute to conflict prevention.

Sharing is caring!

Download your free content now!

Congratulations!

We have received your details!

We'll share General Studies Study Material on your E-mail Id.

Download your free content now!

We have already received your details!

We'll share General Studies Study Material on your E-mail Id.

Incorrect details? Fill the form again here

General Studies PDF

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published.