Russian hacking payment software was used in 75% of ransomware schemes reported to a financial crime agency in the second half of 2021, the US Treasury Department said on Tuesday.
In response to the increase in the number and severity of ransomware attacks in the US since late 2020, the Financial Crimes Enforcement Network (FinCEN) said it received 1,489 ransomware-related filings worth nearly $1.2 billion. in 2021, a jump of 188% over the previous year.
Of the 793 ransomware incidents reported to FinCEN in the second half of 2021, 75% “had a link to Russia, its proxies or persons acting on its behalf,” the report explained.
“We may approach the ransomware challenge with a different lens, but we know that it remains a critical threat to the entire world, but is profitable for bad actors,” said Deputy Treasury Secretary Wally Adeyemo.
Ransom software works by encrypting victims’ data, with hackers offering the victim a ransom key in exchange for cryptocurrency payments that can run into millions of dollars.
A US Treasury official said Tuesday that the department last month repelled cyberattacks by a pro-Russian hacking group, preventing disruption.
Source: CNN Brasil
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.