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Expert Comment: White House outlines cyber budget priorities - ransomware ’no longer profitable’

June 2023 by Dr Darren Williams, CEO and Founder of Blackfog

Yesterday, it was reported that the White House has outlined its cyber budget priorities, including making ransomware ‘no longer profitable’. The letter emphasises that a key focus is on offensive measures needed to stop cybercriminals.

Dr Darren Williams, CEO and founder of Blackfog, notes that:

“This is an important step in protecting the nation’s critical infrastructure. It is commendable to witness leadership at the top levels of government taking initiatives to combat the most dangerous cyber gangs. With 89% of all cyber attacks now using data exfiltration to extort organisations and individuals, according to the May State of Ransomware Report, it is critical we have solutions available to counter this escalating problem. It requires coordinated solutions at both the vendor and government level to fully future-proof against ransomware in the long term. May, for example, witnessed an all-time record in the number of reported attacks, and we do not see this stopping anytime soon without concerted efforts like this. The recognition that data exfiltration is the ultimate prize in any attack to generate financial gain will go a long way in protecting the critical assets and infrastructure of all organisations.”

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