In response to the rise in ransomware attacks especially between the years 2020 – 2021, Financial Crimes Enforcement Network (FinCEN) has issued an updated advisory to financial intermediaries to help monitor and combat ransomware payments. The advisory is an update to a previous version issued in 2020 which alerted financial institutions to trends, typologies and red flags to look for when identifying ransomware payments. In the updated version, the advisory updates the trends and typologies with emphasis on use of crypto currencies to make ransomware payments.
