Report: US$590mil in ransomware payments reported to US in 2021 as attacks surge

A file photo shows a screen displaying the Darkside Onionsite address with a notice saying it could not be found. Some US$590mil in ransomware-related payments were reported in the first half of the year by financial institutions operating in the United States, according to a report released on Oct 15, 2021, by the US Treasury Department. — AFP

WASHINGTON: New data out on Oct 15 showed US$590mil (RM2.45bil) in ransomware-related payments were reported to US authorities in the first half of 2021, setting a pace to beat totals for the previous decade as cyber-extortion booms.

According to the US Treasury Department report, the figure is 42% higher than the amount reported by financial institutions for all of 2020.