The U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence has issued a warning to US individuals and businesses after the number of ransomware attacks have increased.
It also stated that efforts to detect and report ransomware payments are crucial to prevent and deter cyber actors from deploying this software to additional businesses and individuals.
In addition to this, the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an advisory document that details the role of financial intermediaries in payments, ransomware trends and typologies, and related financial red flags.
The report, Advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments, also offers information on reporting and sharing information related to ransomware attacks.
Deputy Secretary Justin G. Muzinich said, “Cybercriminals have deployed ransomware attacks against our schools, hospitals, and businesses of all sizes.
“Treasury will continue to use its powerful tools to counter these malicious cyber actors and their facilitators.”
As we get closer to the holidays, criminals are likely to try and take advantage of consumers. A recent study from Sift claims account takeover attacks have risen by 282% over the past year.
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