News

Financial institutions in the U.S. are on track to file more than double the number of suspicious activity reports on payments tied to suspected ransomware attacks in 2021 as compared to last year, the nation's financial intelligence unit projected Friday. In a 17-page analysis, the Treasury Department's Financial Crimes Enforcement Network, or FinCEN, disclosed that banks, cryptocurrency exchanges and other regulated companies filed 635 SARs on suspected ransomware transactions in the first six months of this year after filing fewer than 500 in all of 2020. The combined value of transactions flagged through ransomware-related SARs this year has already reached...