FinCEN, the US anti-money laundering agency. has released a new report on the increase in ransomware activity in 2021.
reportRegarding the ransomware released October 15th by the Financial Crimes Enforcement Network (FinCEN), the report states:
“The total value of reported suspicious activity in SAR related to ransomware in the first six months of 2021 was $590 million, exceeding the reported value for the full year of 2020 ($416 million).”
FinCEN is a Treasury office that enforces compliance with the Bank Secrecy Act and other anti-money laundering laws, among which, among other provisions, financial institutions operating in the United States. Suspicious activity reports or SARs are required whenever suspicious activity is discovered.
” in this industry It is often called “privacy coin” and the most popular coin is Monero (XMR).
However, FinCEN says that the primary method of withdrawal of ransomware is not using cumbersome technology. Instead, it is sold on centralized cryptocurrency exchanges that operate without regulations or in regions that do not require KYC verification.
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