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Ransomware Attacks and Costs Surge, U.S. Treasury Reports

The costs of likely ransomware payments processed by U.S. financial institutions almost tripled in 2021, according to the Treasury Department. So reports The Record.

ransomware 3998798 1920A new report by the agency’s Financial Crimes Enforcement Network shows ​​1,489 reported incidents under the Bank Secrecy Act last year at a price tag of $1.2 billion, up from 487 incidents costing $416 million in 2020.

More than half of the incidents had links to Russia, according to the report.

Read the full article from The Record

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