2021 Ransomeware Payouts

What is happening? Treasury Department’s Financial Crimes Enforcement Network says 2021 is indicating ransomware attack payouts totaling $1.2Billion. That’s a  188% increase from 2020 $416 million. 2017 had $38 million. The word exponential comes to mind for the rapid increase in ransomware payouts year after year.

Why is this important? The 2nd International Counter Ransomware Initiative Summit led to the coalition of 36 countries and the E.U.  pledging to take additional steps to combat ransomware.

Cybersecurity Dive | US ransomware payments surge to $1.2B in 2021: Treasury