Mastercard Jumps Into the Anti-Ransomware Fight by Joining Europol’s NoMoreRansom Initiative

Mastercard Inc. has become the first payment card network to join the NoMoreRansom initiative sponsored by Europol. NoMoreRansom is a support-services organization for law-enforcement agencies in the European Union.

Ransomware attacks typically consist of malicious software planting itself on a victim’s computer after the victim opens an email attachment or link. After that, software encrypts the computer’s files, with the sender demanding a payment, often in Bitcoin, in order to provide the decryption key.

One recent study found that the amounts ransomware extortionists are demanding have been rising dramatically. For example in the U.S., a number of municipalities, such as Atlanta, Baltimore, and some smaller towns, suffered ransomware attacks within the past year.

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