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
    • Advertise
    • Contact
    • Editorial Staff
    • 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
Tweet
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

  • Why your clients should be planning for healthcare costs in retirement
  • Why emotional readiness is one key to retirement
  • Moody's reprimands Uncle Sam for squandering Hamilton's vision
  • Bad online advice leads to bad financial decisions
  • Nationwide RetireAssist provides more options, flexibility
More Advisor News

Annuity News

  • American National Insurance Company Introduces Smart Start Accumulator Series
  • Security Benefit bolsters its Foundations Annuity
  • National Life: Strong 2024 sales led by 20% life growth, 17% annuity rise
  • LIMRA/LOMA targets consumers with Alliance for Lifetime Income merger
  • Legacy systems a big barrier to insurance industry digital marriage
Sponsor
More Annuity News

Health/Employee Benefits News

  • Reconciliation bill would cut $800B in health care spending, spike uncompensated care
  • House tax-and-spending bill and other Trump administration changes could make millions of people lose their health insurance coverage
  • Medicare Moments: How does Medicare’s fall enrollment affect me?
  • WORKING FAMILIES' HEALTH INSURANCE AT RISK
  • New report: Over 300,000 in Va. could lose coverage
More Health/Employee Benefits News

Life Insurance News

  • 5Star Life Insurance Co. Named One of Forbes' Best Insurance Companies 2025
  • Insurers show strongest financial performance in a decade
  • Seritage Growth Properties Makes $40 Million Loan Prepayment
  • Jackson Awards $900,000 in Grants to Nonprofits Across Lansing, Nashville and Chicago
  • Life insurance sales up 2% in the first quarter, Wink finds
More Life Insurance News

- Presented By -

Top Read Stories

  • What Are Robinhood Event Contracts? Everything You Need to Know
  • LIMRA/LOMA targets consumers with Alliance for Lifetime Income merger
  • What cuts, 20% layoffs at NOAA might mean to insurers
  • Top Financial Stocks To Watch Today – June 7th
  • Life insurance sales up 2% in the first quarter, Wink finds
More Top Read Stories >

NEWS INSIDE

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

FEATURED OFFERS

Press Releases

  • RFP #T01625
  • TAG Advisors Adds New Specialty Markets Leader Carmine LaCognata
  • Royal Neighbors of America Celebrates 130 Years
  • WealthFeed Partners with Wells Advantage Group to Empower Agents with Next-Level Prospecting and Insurance Solutions
  • Wichita National Life Implements Hexure’s FireLight to Power Annuity Sales and Market Expansion
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
  • Advertise
  • Contact
  • Editorial Staff
  • 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
© 2025 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