A new report from the U.S. Treasury Financial Crimes Enforcement Network (FinCEN) finds that three-quarters of “ransomware-related incidents” tracked by FinCEN originated from or were connected to the Russian Federation during the second half of 2021. […]
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The Department of Justice (DOJ) should improve its data collection on the usefulness of suspicious financial transaction reports, according to a recent Government Accountability Office (GAO) report. […]
House and Senate Appropriations Committees today unveiled a full-year omnibus spending bill covering Federal government operations for the rest of fiscal year (FY) 2022 that ends on Sept. 30. […]
The Department of Justice (DoJ) announced that the founder of an alleged fraudulent cryptocurrency trading platform, which at one time had a peak market of $3.4 billion, has been indicted by a San Diego Federal grand jury, according to a Feb. 25 release. […]
Internal Revenue Service (IRS) Commissioner Charles Rettig told Sen. Maggie Hassan, D-N.H., in late December that the IRS needs more money and changes to the tax code to better prevent and prosecute criminal uses of cryptocurrency, which has emerged in recent years as a favored medium of exchange involving ransomware and other cyber attacks. […]
The Treasury Department released a new report that found ransomware victims paid $590 million during the first six months of 2021, which is more than the value reported for the entirety of 2020 ($416 million). […]