OCC sees sharp drop in ransomware attacks on US banks

OpRisk North America: drop-off confounds expectations and mystifies regulators

Cyber security

The number of ransomware attacks on US banks has fallen sharply since Russia’s invasion of Ukraine – confounding expectations and leaving regulators at a loss to explain why.

“From Halloween to Valentine’s Day, I had seen more ransomware attacks across the section than in the previous 18 months,” said Kevin Greenfield, deputy comptroller for operational risk policy at the US Office of the Comptroller of the Currency. “Then, on February 24, it slowed down.”

The OCC has continued to register a

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