The Threat of Ransomware for Financial Institutions: FinCEN Issues Red Flags
Abrigo
NOVEMBER 11, 2021
Processing ransomware payments includes at least one depository institution used in facilitating payments. Most transactions are requested in convertible virtual currency (CVC). After a ransom payment is made, the funds typically flow through a financial institution as a wire transfer, ACH transaction, or credit card payment.
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