Treasury Report Indicates Decline in Ransomware Payments, Offers Hope for Cybersecurity
A recent report from the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) indicates a decline in ransomware payments, suggesting a potential decrease in ransomware activity. The report highlights a 33% drop in total payments from $1.1 billion in 2023 to $734 million in 2024. Despite this decline, the number of ransomware attacks remains relatively stable, with 1,476 incidents reported in 2024 compared to 1,512 in 2023. The report identifies manufacturing, financial services, and healthcare as the most affected sectors. The study also notes the prevalence of specific ransomware variants, with ALPHV/BlackCat being the most reported.