Ransomware Payments Made Though U.S. Banks Doubled to $1.2 Billion in 2021

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Data from the Treasury’s Financial Crimes Enforcement Network (FinCEN) shows $1.2 billion in potential ransomware-related payments in 2021, more than double the amount from the previous year and the most ever reported, with the five hacking tools accounting for the most payments during the last half of 2021 all connected to Russian hackers.

According to Treasury, the sharp increase in reported ransomware payments could be due to banks getting better at tracking and reporting the payments, but also a broader trend of a high rate of ransomware attacks across industries. The Treasury Department’s analysis draws on reports that US banks are required to file with regulators to prevent money laundering. (Sean Lyngaas / CNN)

Related: FinCen, CNBC, Bloomberg, Arutz Sheva News, Technology | The Hill, WebProNews, Cyberscoop