FinCEN’s most recent report has revealed that ransomware activity reached a new peak in 2023, accumulating over $1.1 billion in payments before a decline in 2024, as law enforcement pursued major gangs such as ALPHV/BlackCat, LockBit. In general, FinCEN data reveals $2.1 billion in ransoms paid from 2022 through 2024, and about $4.5 billion from 2013 to 2024.
FinCEN’s findings draw on thousands of Bank Secrecy Act reports, that registered 4,194 ransomware incidents between January 2022 and December 2024. Ransomware earnings peaked 2023 with 1,512 incidents and a 77% increase in payouts from 2022, but dropped to nearly $734 million in 1,476 incidents during 2024, decrease attributed to the global disruption of the BlackCat and LockBit operations. These takedowns left affiliates to either transition to other ransomware brands or try to rebuild.
The report does note that most single ransom amounts were under $250,000, although some sectors consistently took the biggest hits. By number of incidents, manufacturing, financial services, healthcare, retail, and legal services were the most frequently targeted industries from 2022 to 2024. By total losses, financial services led with about $365.6 million paid, followed by healthcare, manufacturing, science and tech
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