US Banks Processed $1.2 Billion for Ransomware Hackers Last Year
Credit:
PC Mag
New data from the US Treasury Department shows ransomware attacks cost victims more than $1 billion in 2021.
The estimate comes from the Treasury’s Department’s Financial Crimes Enforcement Network (FinCEN), which looked at US banks and their filings concerning money transactions to suspected ransomware hackers.
“In 2021, FinCEN received 1,489 ransomware-related filings worth nearly $1.2 billion, a 188% increase compared to the total of $416 million for 2020,” the Treasury Department wrote in a report published on Tuesday. Of the 1,489 filings made last year, 1,251 of them concerned incidents involving a ransomware demand or payment that occurred in 2021. “The total value of these incidents was roughly $886 million,” Treasury added.
