US Treasury warns crypto firms not to reimburse unknown ransomware victims By Cointelegraph

US Treasury warns crypto firms not to reimburse unknown ransomware


US Treasury warns crypto firms not to reimburse unknown ransomware victims

Two offices of the United States Department of the Treasury have issued advisories on ransomware payouts, which they say pose a threat to national security. The Financial Crimes Enforcement Network, or FinCEN, reminded cryptocurrency processing companies of their duty to file suspicious activity reports when they have a reason to suspect that their services are being engaged for such payouts to sanctioned individuals:

The announcements also note that while (BTC) remains the favorite currency of cybercriminals, there is a trend toward greater use of privacy coins. Apparently, some criminals have even offered a discount to those who chose the latter.

Source: FinCEN.