The work in this direction will be handled by the bilateral commission on financial technologies and cybersecurity.

The U.S. and Israeli authorities have reached agreements on cooperation in the fight against hackers using extortion software, as well as in ensuring the security of the financial infrastructure. This is stated in a statement released by the U.S. Treasury Department.

As it follows, the deputy head of the American department, Adewale Adeyemo, met earlier in the day with the head of the Israeli Finance Ministry, Avigdor Lieberman, as well as with the leadership of the service of this country responsible for cybersecurity issues. The meeting took place in Israel. The parties agreed to launch “a bilateral partnership to protect the most important financial infrastructure and new technologies, as well as to expand international cooperation in countering the threat that extortion software poses to countries and the global economy.”

The document clarifies that the bilateral commission on financial technologies and cybersecurity will be engaged in work in this direction. As Adeyemo noted, the use of ransomware viruses makes it difficult to restore the global economy after the crisis caused by the pandemic of the new coronavirus.

The relevant commission intends to develop recommendations concerning the exchange of information between the United States and Israel on the financial sector and cybersecurity, joint training in this area, and conducting training.