Ransomware cost US banks $1.2 billion last year

Dan Robinson reports:

Banks in the US paid out nearly $1.2 billion in 2021 as a result of ransomware attacks, a marked rise over the year before though it may simply be due to more financial institutions being asked to report incidents.

The figures come from the most recent Financial Trend Analysis report [PDF] on ransomware from the US Treasury’s Financial Crimes Enforcement Network (FinCEN) covering Bank Secrecy Act (BSA) filings for 2021.

Read more at The Register.

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