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Financial Trend Analysis Report predicts, Ransomware is one of the biggest threats to the US economy

- Rima Mondal

19th October 2021: According to a new report published by the US Treasury Department, ransomware is threatening the country's economy than ever before and it is one of the biggest financial problems facing the nation. The Secretary of the US Treasury Department, Janet L. Yellen said that ransomware and cyber-attacks are affecting the large as well as small businesses across the country and also affecting the economy at large.

The latest data report shows that in this year of 2021 the ransomware has cost the US about 600 million dollars which is likely 200 million dollars more than the previous year of 2020.

Recently, on a Remote Session webcast that was featured with the Threat Intelligence Manager for Digital Shadows, Alec Alvarado gave a speech about the rapid growth of this ransomware and he also gave important updates and data about it.

The cyber security professionals as well as the US Treasury Department have taken some vital steps to avoid ransomware risks. These steps include security alert systems to enable active blocking and reporting of such malicious activities, contact information for the Bureau of Investigation (FBI), Cyber Security and Infrastructure Security Agency (CISA), OFAC, and also red-flag indicators of ransomware in the 'Advisory on Ransomware and the Use of the Financial System to Facilitate Ransome Payments' issued by FinCEN in October 2020.


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