FBI shuts down Qakbot malware tied to ransomware, financial fraud - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Regulation News
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Regulation News RSS Get our newsletter
Order Prints
August 30, 2023 Regulation News
Share
Share
Post
Email

FBI shuts down Qakbot malware tied to ransomware, financial fraud

Clayton News Daily (Jonesboro, GA)

WASHINGTON — The Justice Department on Tuesday said the FBI led a multinational effort involving the authorities from France, Germany, the Netherlands, the United Kingdom, Romania and Latvia to take down criminal infrastructure, disabling malware known as Qakbot.

"The action represents the largest U.S.-led financial and technical disruption of a botnet infrastructure leveraged by cybercriminals to commit ransomware, financial fraud, and other cyber-enabled criminal activity," the Justice Department said in a statement.

The department said it had seized about $8.6 million in cryptocurrency that criminals had amassed from ransom payments by victims and the money would be returned to victims.

FBI Director Christopher Wray said in a separate statement that the malware touched on some of the areas security experts in Washington consider most sensitive.

"The victims ranged from financial institutions on the East Coast to a critical infrastructure government contractor in the Midwest to a medical device manufacturer on the West Coast," Wray said in a statement. He didn't provide details on the infrastructure sector the contractor was involved in.

The White House in July issued an implementation plan to spell out how it would protect critical infrastructure such as water and power plants. The administration strategy calls for large public and private sector entities to take more responsibility to reduce risks, and it offers incentives for more investment in long-term cybersecurity.

The Qakbot malware was used to infect victims' computers through spam email messages containing malicious attachments, the Justice Department said. Once clicked and activated, the malware installed ransomware, shutting down victims' computers and leading the criminals to demand ransom payments to unlock them, the department said.

The FBI gained access to Qakbot infrastructure and identified more than 700,000 computers worldwide, including 200,000 in the United States, that were affected by the malware, the department said.

The malware was used by prolific criminal groups such as Conti, REvil and others that have been linked to attacks on U.S. hospitals, school systems, city governments, as well as similar victims in other countries around the world.

Older

More than $30 million in claims certified against estate of deceased Nebraska businessman

Newer

Con man, convicted twice in New York, now faces 18 felony counts in LA

Advisor News

  • Guaranteed income streams help preserve assets later in retirement
  • Economic pressures make boomerang living the new normal
  • Pay or Die: The scare tactics behind LA County’s Measure ER tax increase
  • How to listen to what your client isn’t saying
  • Strong underwriting: what it means for insurers and advisors
More Advisor News

Annuity News

  • Guaranteed income streams help preserve assets later in retirement
  • MassMutual turns 175, Marking Generations of Delivering on its Commitments
  • ALIRT Insurance Research: U.S. Life Insurance Industry In Transition
  • My Annuity Store Launches a Free AI Annuity Research Assistant Trained on 146 Carrier Brochures and Live Annuity Rates
  • Ameritas settles with Navy vet in lawsuit over disputed annuity sale
More Annuity News

Health/Employee Benefits News

  • Judge rules some evidence admissible in Luigi Mangione murder case
  • New cap on split costs for patients
  • Researchers from University of South Carolina Provide Details of New Studies and Findings in the Area of Opioids (Trends in Medicaid managed care benefits for opioid use disorder treatment, 2015-2019): Opioids
  • State lawmakers push bill to stop insurance termination based on genetic tests
  • CMS rule cracks down on ACA fraud and strengthens state control
More Health/Employee Benefits News

Life Insurance News

  • Best’s Market Segment Report: AM Best Revises Outlook on France’s Non-Life Insurance Segment to Stable from Negative, Reflecting Top-line Growth, Technical Profitability
  • Pacific Life Launches New Flagship Variable Universal Life Insurance Product
  • NAIFA launches “NAIFA Cares” initiative to help build long-term financial security for children
  • The fiduciary standard for life insurance is here
  • GenAI: Moving to the forefront of claims management
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Press Releases

  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet