Both countries will work together to counter ransomware and other cyber threats
The US and Israel have established a new bilateral partnership that will see both countries work together to combat ransomware and other pressing cyber threats.
This new partnership builds on the longstanding relationship between the US Treasury Department and the Israeli Ministry of Finance. In addition to working together to disrupt ransomware operations, the two countries will create a joint task force to address cybersecurity.
In a press release announcing the new partnership, Deputy Secretary of the Treasury, Wally Adeyemo explained how the US and Israel will work together to safeguard the global economy from ransomware and cyberattacks, saying:
“Harnessing both the power of international cooperation and of technology innovation will position us to support economic competitiveness, prosperity, and to combat global threats including ransomware. As the global economy recovers and ransomware and other illicit finance threats present a grave 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 objectives.”
As its first order of business, the new task force will begin working to develop a Memorandum of Understanding which will cover sharing information related to the financial sector, staff training and study visits to promote cooperation and competency-building activities such as cross-border cybersecurity exercises.
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