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Cybersecurity

U.S., Israel Join Forces to Combat Ransomware Attacks

Allies to work on cyber threats to global financial system
U.S. recently blacklisted two Israeli companies over spyware

NETHERLANDS-CYBER-ATTACKS-SECURITY — Photographer: Rob Engelaar/AFP/Getty Images

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November 14, 2021, 7:18 PM UTC

The U.S. and Israel established a joint cybersecurity initiative to fight the use of ransomware in hacking incidents and threats to the global financial system.

Less than two weeks after the U.S. blacklisted NSO Group -- the maker of Pegasus spyware -- and another Israeli company for developing spyware, the agreement signals an opportunity for the two allies to join forces. Deputy Treasury Secretary Wally Adeyemo said ransomware and other forms of illicit finance are a shared challenge.