top of page
  • Writer's pictureDeborah

FinCEN released its Financial Trend Analysis of ransomware-related Bank Secrecy Act (BSA) filings for the second half of 2021. Ransomware continues to pose a significant threat and 2021 saw an increase in both the number of filings reported and their overall dollar value of incidents. In 2021, FinCEN received 1,489 ransomware-related filings worth nearly USD 1.2 billion, a 188 percent increase compared to the total of USD 416 million for 2020.

Financial institutions have a critical role in protecting the financial system and FinCEN recommends to:

  1. Incorporate indicators of compromise (IOCs) into intrusion detection systems to enable blocking or reporting of suspected malicious activity

  2. Contact law enforcement immediately regarding ransomware activity

  3. Report suspicious activity

Recent Posts

See All

The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. SOFR is the overnight interest rate for US dollar-denomina

13/06/2023 - Canadian Securities Administrators (CSA) SEDAR+ go-live date. All issuer filings, cease trade orders and disciplined list entries will be filed in SEDAR+ 16/06/2023 - OSFI consultation pe

On May 11, the Bank for International Settlements (BIS) published a Handbook on how central bank digital currencies (CBDCs) could work for offline payments, defined as a “transfer of value between dev

bottom of page