The good news is despite lack of dedicated laws, explicitly addressing ransomware, in many jurisdictions, they often treat such attacks as a predicate offense under existing criminal statutes. This approach allows law enforcement agencies to pursue and prosecute cybercriminals engaged in ransomware activities. FATF has provided a guidance on risk indicators that can help financial institutions and VASPs to identify detect and combat ransomware financing attempts. The G7 also, has been active in addressing the ransomware threat and recognized the severity of the issue and has provided financial entities with high-level building blocks to guide them in addressing the ransomware threat. However victim reporting could be a source which enables authorities to step forward in time. In most jurisdictions, incident reporting is voluntary but victims may not have incentives to voluntarily report incidents due to post-ransom payment and lack of legal protections. For instance, paying a ransom to entities or individuals subject to sanctions can lead to legal consequences. 

In conclusion, the threat of ransomware presents a complex challenge that transcends borders and disciplines. Effectively countering this threat demands a coordinated and multifaceted approach. By fostering partnerships at the local, national, and international levels, jurisdictions can strengthen their collective defences. The escalating sophistication of ransomware, fuelled by technological advancements, highlights the need for a harmonized and structured framework to not only mitigate the immediate impact of ransomware but also to cultivate a resilient cybersecurity ecosystem for the future.