Treasury reveals ransomware trends in Bank Secrecy Act data

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a Financial Trend Analysis on ransomware incidents in Bank Secrecy Act (BSA) data between 2022 and 2024, which totaled more than $2.1 billion in ransomware payments.

Previous FinCEN Financial Trend Analyses have focused on reported ransomware payments and incidents by the date the activity was filed with FinCEN. The new report shifts the focus to the incident date of each ransomware attack and offers greater visibility into the activities conducted by ransomware actors.

Ransomware incidents and payments reported to FinCEN reached their highest level in 2023 with 1,512 incidents, totaling $1.1 billion in payment — an increase of 77 percent in total payments year-over-year from 2022 to 2023. Following law enforcement’s disruption of two high-profile ransomware groups, ransomware incidents reported to FinCEN decreased in 2024, with 1,476 incidents, reflecting $734 million in the aggregate value of reported payments in BSA reports.

Read more at FinCEN