The cybersecurity company Truesec and Europol are joining forces to disrupt criminal businesses with the initiative “No More Ransom” – a global collaboration between law enforcement and other key players to help ransomware victims. To contribute, Truesec has developed a unique decryption tool that will help thousands of ransomware victims to recover encrypted files, without having to pay the cybercriminals.
In a joint quest against cybercrime, Europol, the Dutch National Hi-Tech Crime Unit, and selected IT security companies have joined forces to disrupt cybercriminal business models with ransomware connections. The No More Ransom initiative helps organizations retrieve encrypted data and valuable assets, without having to pay a ransom.
“For every ransom paid, cybercriminal groups grow stronger. At Truesec, we have a strong track record of helping clients recover from ransomware attacks – without having to pay a ransom. By being an active contributor to No More Ransom, we can help more victims with our technical expertise and help them minimize the damage from cyber attacks,” says Markus Lassfolk, Vice President of Truesec Incident Response.
Truesec has been appointed Associate Partner after contributing to the “No More Ransom” project with a new unique decryption tool and decryption keys for the Chaos ransomware family, which will help thousands of victims of ransomware attacks regain access to their data.
Truesec has been at the forefront of fighting cybercrime for years and manages many of the largest and most severe cyber incidents worldwide.
Also Read: Strategies to Secure IT Infrastructure from Ransomware Attacks Stemming from Third-Party Vendors
“At Truesec, we know firsthand what devastating impact ransomware attacks have on organizations and critical infrastructure. We are happy to contribute to the No More Ransom initiative, and welcome any collaboration that helps create safety for our societies. This is a fight we must win together,” says Anna Averud, CEO of Truesec Group.
- Ransomware is malicious software that encrypts files and data, used by cybercriminals to extort victims for ransom.
- Initiated in 2016, “No More Ransom” is a collaboration between Europol, the Dutch National Hi-Tech Crime Unit, and selected IT security companies, helping ransomware victims regain access to encrypted files without having to pay.
- The term ransomware family refers to a group of ransomware strains that were derived from the same original ransomware.
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