back Back

Truesec and Europol partner to fight cybercrime

By Gloria Methri

December 12, 2022

  • Cybercrime
  • Digital Attacks
  • Europol

Trusec, Europol, Switzerland, cybersecurity, ransomware, fraud, cybercrimeCybersecurity companies Truesec and Europol have joined forces to disrupt criminal businesses with the initiative “No More Ransom”. As part of the initiative, Truesec has developed a unique decryption tool that will help ransomware victims to recover encrypted files, without having to pay cybercriminals.

Europol, the Dutch National Hi-Tech Crime Unit, and select IT security companies have come together to disrupt cybercriminal business models with ransomware connections.

Ransomware is malicious software that encrypts files and data, used by cybercriminals to extort victims for ransom.

“For every ransom paid, cybercriminal groups grow stronger,” said Markus Lassfolk, Vice President of Truesec Incident Response. “We have a strong track record of helping clients recover from ransomware attacks – without having to pay a ransom. By being an active contributor to No More Ransom, we can help more victims with our technical expertise and help them minimize the damage from cyber-attacks.

Truesec has been appointed Associate Partner for developing the decryption tool and decryption keys for the Chaos ransomware family, which will help thousands of victims of ransomware attacks regain access to their data. The term ransomware family refers to a group of ransomware strains that were derived from the same original ransomware.

Truesec, which has been fighting cybercrime for years,  manages some of the largest and most severe cyber incidents worldwide.

Anna Averud, CEO of Truesec Group said, “At Truesec, we know firsthand what devastating impact ransomware attacks have on organizations and critical infrastructure. We are happy to contribute to the No More Ransom initiative and welcome any collaboration that helps create safety for our societies. This is a fight we must win together.”

Previous Article

December 12, 2022

NMI acquires Agreement Express’s payments solutions

Read More
Next Article

December 12, 2022

Epay integrates UnionPay QR Code Payments in Europe

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024


Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


FIS launches new Trade Matching Solution in the UK

Read More

July 18, 2024

Slope raises $65m in equity and debt funding from J.P. Morgan & others

Read More

July 18, 2024

Jamaica’s First Global Bank partners with Profile Software

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024