11.01.22
Financial Firms Spent $1B on Ransomware Payments in 2021
by: Jack Gillum
U.S. financial firms spent nearly $1.2 billion on likely ransomware-related payments last year, most commonly in response to breaches originating with Russian criminal groups, according to the U.S. Treasury Department. The payments more than doubled from 2020. Treasury's Financial Crimes Enforcement Network said its analysis “indicates that ransomware continues to pose a significant threat to U.S. critical infrastructure sectors, businesses and the public.”
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