The Financial Crimes Enforcement Network (FinCEN) has issued a trend analysis report on ransomware relating to Bank Secrecy Act (BSA) reporting filed in the first half of this year. FinCEN examined ransomware-related Suspicious Activity Reports (SARs) filed between January 1 and June 30, 2021, which totalled over $590 million in suspected ransom payments. Financial institutions need to ensure their suspicious activity monitoring systems are adequate and report in a timely manner. 

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