US & Israel Agree To Cybersecurity Partnership With Efforts Aimed At Stopping Corporate Ransomware, Protecting Economy

FILE PHOTO © David Vergun / US Army Services / Handout via Reuters


The US Treasury Department announced a new cybersecurity partnership with Israel’s Ministry of Finance, saying that the two nations would work together to protect the global economy from ransomware and other tech-related threats.

The partnership was announced in a US Treasury Department press release on Sunday, which claimed the task force between the two countries would “protect critical financial infrastructure and emerging technologies” and work to “counter the threat ransomware poses to countries and the global economy.”

Wally Adeyemo, the deputy secretary of the US Treasury Department, warned in a statement that ransomware and “other illicit finance threats” posed “a grave challenge to Israel and the United States” and said a closer partnership between the two countries would be “critical” to the US’ economic and national security interests.

Israel and the US will share intelligence relating to cybersecurity threats under the new partnership and conduct “cross-border cybersecurity exercises.” The US Treasury Department will also take part in Israel’s CyberTech Global Tel Aviv conference next year.

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