Ransomware

Treasury’s Ransomware Advisory

Recent administrations have rightfully been concerned about ransomware. Ransomware is a form of malware used to extort users – the software locks your device and then demands a ransom for its release. Ransomware attacks are increasing in scale, sophistication, and frequency, victimizing governments, individuals, and private companies around the world. In 2020, ransomware payments reached over $400 million, more than four times their level in 2019. The U.S. government estimates that these payments represent just a fraction of the economic harm caused by cyber-attacks, but they underscore the objectives of those who seek to weaponize technology for personal gain.

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