FIN7 Cybercrime Syndicate Emerges as a Major Player in Ransomware Landscape
Dec 22, 2022
Cyber Crime / Ransomware
An exhaustive analysis of FIN7 has unmasked the cybercrime syndicate's organizational hierarchy, alongside unraveling its role as an affiliate for mounting ransomware attacks. It has also exposed deeper associations between the group and the larger threat ecosystem comprising the now-defunct ransomware DarkSide , REvil , and LockBit families. The highly active threat group, also known as Carbanak, is known for employing an extensive arsenal of tools and tactics to expand its "cybercrime horizons," including adding ransomware to its playbook and setting up fake security companies to lure researchers into conducting ransomware attacks under the guise of penetration testing. More than 8,147 victims have been compromised by the financially motivated adversary across the world, with a majority of the entities located in the U.S. Other prominent countries include China, Germany, Canada, Italy, and the U.K. FIN7's intrusion techniques, over the years, have furth