FinCEN Issues Financial Trend Analysis on Ransomware FinCENgov
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ppWASHINGTONToday the US Department of the Treasurys Financial Crimes Enforcement Network FinCEN is issuing a Financial Trend Analysis on ransomware incidents in Bank Secrecy Act BSA data between 2022 and 2024 which totaled more than 21 billion in ransomware paymentsppBanks and other financial institutions play a key role in protecting our economy from ransomware and other cyber threats said FinCEN Director Andrea Gacki By quickly reporting suspicious activity under the Bank Secrecy Act they provide law enforcement with critical information to help detect cybersecurity trends that can damage our economy This work is vital to safeguarding our nations financial sector and strengthening our national securityppPrevious FinCEN Financial Trend Analyses have focused on reported ransomware payments and incidents by the date the activity was filed with FinCEN Todays report shifts the focus to the incident date of each ransomware attack and offers greater visibility into the activities conducted by ransomware actorsppReported Ransomware Incidents and Payments Reach AllTime High in 2023ppFinCEN Data Shows Ransomware Payments Top 21B in Just Three YearsppFinancial Services Manufacturing and Healthcare were the Most Impacted IndustriesppThe Onion Router TOR was the Most Common Communication Method ReportedppALPHVBlackCat was the Most Prevalent Ransomware Variant Between 2022 and 2024ppRansomware is a complex cybersecurity problem requiring a variety of preventive protective and preparatory best practices More information on FinCENs efforts to combat ransomware including guidance and other resources for financial institutions is available at wwwfincengovresourcesfincencombatsransomwareppFinCENs FTA is available online at Ransomware Trends in Bank Secrecy Act DatappQuestions or comments regarding the contents of this release should be addressed to the FinCEN Regulatory Support Section by submitting an inquiry at wwwfincengovcontactppppFinCEN periodically publishes Financial Trend Analyses describing threat pattern and trend information derived from Bank Secrecy Act BSA filings to highlight priority illicit finance risks These analyses provide information that is relevant to a wide range of consumers businesses and industries communicate the value of BSA reporting and enhance feedback loops between government users of BSA reports and their filers Additionally Financial Trend Analyses fulfill FinCENs obligations pursuant to section 6206 of the AntiMoney Laundering Act of 2020 which requires FinCEN to periodically publish threat pattern and trend information derived from BSA filings pppp ppUSAgov Regulationsgov Treasurygov IRSgov Freedom of Information Act FOIA NO FEAR Act Votegov Accessibility Office of Equal Opportunity Privacy Policy Public Posting Notice of Finding of Discrimination Security and Vulnerability Disclosure Policies VDP Office of Inspector Generalp
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Federal government websites often end in gov or mil Before sharing sensitive information make sure youre on a federal government site
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The https ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely
ppWASHINGTONToday the US Department of the Treasurys Financial Crimes Enforcement Network FinCEN is issuing a Financial Trend Analysis on ransomware incidents in Bank Secrecy Act BSA data between 2022 and 2024 which totaled more than 21 billion in ransomware paymentsppBanks and other financial institutions play a key role in protecting our economy from ransomware and other cyber threats said FinCEN Director Andrea Gacki By quickly reporting suspicious activity under the Bank Secrecy Act they provide law enforcement with critical information to help detect cybersecurity trends that can damage our economy This work is vital to safeguarding our nations financial sector and strengthening our national securityppPrevious FinCEN Financial Trend Analyses have focused on reported ransomware payments and incidents by the date the activity was filed with FinCEN Todays report shifts the focus to the incident date of each ransomware attack and offers greater visibility into the activities conducted by ransomware actorsppReported Ransomware Incidents and Payments Reach AllTime High in 2023ppFinCEN Data Shows Ransomware Payments Top 21B in Just Three YearsppFinancial Services Manufacturing and Healthcare were the Most Impacted IndustriesppThe Onion Router TOR was the Most Common Communication Method ReportedppALPHVBlackCat was the Most Prevalent Ransomware Variant Between 2022 and 2024ppRansomware is a complex cybersecurity problem requiring a variety of preventive protective and preparatory best practices More information on FinCENs efforts to combat ransomware including guidance and other resources for financial institutions is available at wwwfincengovresourcesfincencombatsransomwareppFinCENs FTA is available online at Ransomware Trends in Bank Secrecy Act DatappQuestions or comments regarding the contents of this release should be addressed to the FinCEN Regulatory Support Section by submitting an inquiry at wwwfincengovcontactppppFinCEN periodically publishes Financial Trend Analyses describing threat pattern and trend information derived from Bank Secrecy Act BSA filings to highlight priority illicit finance risks These analyses provide information that is relevant to a wide range of consumers businesses and industries communicate the value of BSA reporting and enhance feedback loops between government users of BSA reports and their filers Additionally Financial Trend Analyses fulfill FinCENs obligations pursuant to section 6206 of the AntiMoney Laundering Act of 2020 which requires FinCEN to periodically publish threat pattern and trend information derived from BSA filings pppp ppUSAgov Regulationsgov Treasurygov IRSgov Freedom of Information Act FOIA NO FEAR Act Votegov Accessibility Office of Equal Opportunity Privacy Policy Public Posting Notice of Finding of Discrimination Security and Vulnerability Disclosure Policies VDP Office of Inspector Generalp
