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US banks processed over $1 billion in ransomware payments last year

02
Nov
2022
US banks processed over $1 billion in ransomware payments last year

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Banks in the United States processed almost $1.2 billion in ransomware(opens in new tab) payments last year, a new report has claimed.

The Financial Crimes Enforcement Network (FinCEN) drew on data from the ransomware-related Bank Secrecy Act (BSA) filings throughout 2021, and found such incidents have increased “substantially” year-on-year, with roughly 75% of the reported incidents happening in the second half of the 2021.

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