A partnership between the United States and Israel to support financial technology innovations and cybersecurity and has been said to primarily focus on President Biden’s approach to create international cooperation to counter ransomware.
The bilateral task force announcement follows the recent Counter-Ransomware Initiative meeting that was held virtually in October. The meeting featured countries across the globe, including members of the European Union and Israel. During the meeting, the importance of disrupting the ransomware business model was stressed by all.
The United States-Israel task force has seemingly been born out of the Counter-Ransomware Initiative meeting’s points of focus, with the importance of information exchange, joint work and collaboration all emphasised during the virtual event.
Individuals and organizations linked with the task force all have stated its potential benefits. Some listing the value of Israeli cybersecurity firms to the United States as a primary motive for the collaboration, with around 30% of cybersecurity firms calling Israel home, it is an understandable assumption.
Israel has also made some huge leaps in terms of cybersecurity and cyberspace. According to experts in country, Israel was the first to recognize cyberspace as a separate warfare domain and it has also established the Cyber Directorate, responsible for Israeli cyber defence both civilian and government.
From a wider perspective the partnership between the United States and Israel has been long standing when it comes to defence, so it makes sense for this cross-collaboration to have bled into the cyber world. Overall, the collaboration between the two countries will likely spell success whether it’s predominantly success in countering cyber risks or whether the partnership creates a mutual financial benefit.