FinCEN ANALYSIS REVEALS RANSOMWARE REPORTING IN BSA FILINGS INCREASED SIGNIFICANTLY DURING THE SECOND HALF OF 2021

On 1 November, a news release from FinCEN advised the release of its latest Financial Trend Analysis of ransomware-related Bank Secrecy Act (BSA) filings for 2021, indicating that ransomware continued to pose a significant threat to US critical infrastructure sectors, businesses, and the public.  The report focuses on ransomware trends in BSA filings from July-December 2021, and addresses the extent to which a substantial number (about 75%) of ransomware attacks appear to be connected to actors in Russia.  Ransomware–related BSA filings in 2021 approached $1.2 billion.

https://www.fincen.gov/news/news-releases/fincen-analysis-reveals-ransomware-reporting-bsa-filings-increased-significantly

https://www.fincen.gov/sites/default/files/2022-11/Financial%20Trend%20Analysis_Ransomware%20FTA%202_508%20FINAL.pdf

https://www.buymeacoffee.com/KoIvM842y

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 View all posts by raytodd2017