The Financial Crimes Enforcement Network (FinCEN) today issued a financial trend analysis on ransomware trends in Bank Secrecy Act reporting filed between January 2021 and June 2021. The Anti-Money Laundering Act of 2020 (AMLA) mandates that FinCEN publish threat pattern and trend information derived from financial institutions’ Suspicious Activity Reports. This first report issued pursuant to the AMLA focuses on pattern and trend information pertaining to ransomware, in line with FinCEN’s issuance of government-wide priorities for anti-money laundering and countering the financing of terrorism policy. FinCEN released its report in coordination with Treasury’s Office of Foreign Assets Control’s issuance of an educational brochure to promote sanctions compliance in the virtual currency industry.
FinCEN Report: https://www.fincen.gov/news/
Treasury News Release: https://home.treasury.gov/