Harnessing the G20’s Potential for Global Counter- Ransomware Efforts

Ransomware attacks have emerged as a massive cybersecurity challenge for states, civil society, the private sector, and individuals around the world. These attacks have disrupted national and commercial computer networks, caused data breaches, and in 2021 alone cost the global economy an estimated US$20 billion. Multilateral and plurilateral initiatives are working to raise awareness and create diplomatic solutions to the challenges posed by the application of ransomware. The G20 can contribute to global counter- ransomware efforts through its Digital Economy Working Group. The grouping should assert itself as a global leader in countering ransomware while complementing existing international efforts. It should facilitate existing efforts of multilateral platforms for responsible state behaviour, declare its support to commence negotiations for a new United Nations Cybercrime Convention, and create a multi-stakeholder capacity- building platform to enhance awareness and strengthen the cyber-resilience of countries in the Global South.