Regulatory Alerts2022-11-01 | PDF OnlyAdded
Report on Ransomware Trends in Bank Secrecy Act Data between July 2021-December 2021
FinCEN reports that ransomware-related incidents in Bank Secrecy Act data rose to at least 1,251 with a total value of roughly $886 million in 2021, compared to 602 incidents valued at $527 million in 2020. During the second half of 2021, 75% of the 793 reported incidents and 69% of the incident value were linked to Russia-related malware variants. The analysis identifies 84 unique ransomware variants, with 58% assessed as connected to suspected Russian cyber actors based on open source indicators. This information is published pursuant to the Anti-Money Laundering Act of 2020 to provide threat pattern and trend data to the public and financial institutions.