FinCen Warns on Ransomware Attacks, Notes Increased Targeting of Government E...

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing Schemes Targeting Covid-19 Vaccine Research Institutions According to the alert, FinCEN says that fraud, ransomware attacks, and “similar types of criminal activity” target the distribution of Covid-19 vaccines, which could affect their supply chains if proper actions are not taken on....

In fact, 1% of attacks saw a demand of US$150,000 to be paid in Bitcoin. Ransomware developers are always one step ahead of security researchers these days. Not only in the way their software works, but also how they target potential victims. American businesses are seeing an influx in ransomware attacks all of a sudden. More particularly, company executives are a prime target for ransom are right now. While nearly nine in ten ransomware attacks are targeting hospitals these days, corporations are not out of the woods just yet. A new study unveiled how 40% of businesses investigated had....

The topic of Bitcoin ransomware has been beaten around the bush multiple times by now, but a recent report by Intel Security shows the threat is far from over. In fact, their findings suggest ransomware becomes a grave threat by 2021, and healthcare institutions will be the primary target. Bitcoin Ransomware To Keep Targeting Healthcare Sector. It is not the first time Bitcoin ransomware and healthcare are mentioned in the same breath, as these malware attacks have caused issues for various hospitals all over the world in the past few months. A new report by Intel Security indicates this....

Chainalysis has stated that ransomware arrests will soon take place targeting cyber criminals behind ransomware attacks. Rise of Ransomware Attacks. Over the past six months, ransomware attacks have become an issue to government, business and healthcare organizations. In January, CCN reported that three banks and a pharmaceutical company in India had been targeted by a ransomware scheme with the ransom demand in bitcoins. Three Greek banks were reported hacked last November with the hackers demanding their ransom be paid in bitcoins. While the individuals in question were unable to gain....

FinCEN, the U.S. Financial Crimes Enforcement Network, linked more than $5 billion in bitcoin transactions to the most common ransomware variants out there. The organization stated in a report issued last week that the mean average total monthly suspicious amount of ransomware transactions was $66.4 million during the first two quarters of 2021. FinCEN also determined that the most used cryptocurrency associated with these activities was bitcoin. FinCEN Dives Into Ransomware Attacks FinCEN, the U.S. Financial Crimes Enforcement Network, found that more than $5 billion in bitcoin....