US to Partner with Israel to Combat Ransomware Attacks

The U.S. Treasury Department said on Sunday it will partner with Israel to combat ransomware, with the two countries launching a joint task force to address cybersecurity.

Deputy Secretary of the Treasury Wally Adeyemo met with Israeli Finance Minister Avigdor Lieberman and Director General of the National Cyber Directorate Yigal Unna in Israel on Sunday to establish a bilateral partnership, the department said in a statement.

The announcement follows a virtual meeting aimed at tackling ransomware, which was held at the White House in October with the European Union and more than 30 countries, including Israel.

At that meeting, Adeyemo asked for international cooperation to address the abuse of virtual currency and disrupt the ransomware business model.

A broader U.S.-Israeli task force was also launched Sunday to address issues related to fintech and cybersecurity, the Treasury Department said.