On 15 October, FinCEN published a financial trend analysis on ransomware trends in Bank Secrecy Act reporting filed between January 2021 and June 2021. The report, issued pursuant to the Anti-Money Laundering Act 2020, focuses on pattern and trend information pertaining to ransomware, in line with FinCEN’s issuance of government-wide priorities for AML/CFT policy.  It further establishes that ransomware is a significant threat to the US financial sector, businesses, and the public. FinCEN’s analysis of ransomware-related SAR highlights average ransomware payment amounts, prevalent ransomware variants, and prominent ransomware money laundering typologies:  FinCEN identified 68 different ransomware variants.  FinCEN also identified several typologies common among ransomware variants in 2021, including threat actors increasingly requesting payments in Anonymity-Enhanced Cryptocurrencies such as Monero, and avoiding reusing wallet addresses, “chain hopping” and cashing out at centralised exchanges, and using mixing services and decentralised exchanges to convert proceeds.

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: