Page 3 - Potential Sanctions Risks News Today

On September 21, 2021, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") issued an "Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments" (the "Updated Advisory").

On September 21, 2021, the U.S. Department of the Treasury announced two major actions by the Office of Foreign Asset Control (OFAC) to combat ransomware: the release of OFAC's Updated...

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an “Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” This...

The US Department of the Treasury’s Office of Foreign Assets Control OFAC issued an Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments the Updated Advisory guidance on ransomware attacks and added a virtual currency exchange.

To embed, copy and paste the code into your website or blog: Recent ransomware attacks against U.S. critical infrastructure, which includes the energy sector’s production of oil and natural gas, and other sources of electricity and power, have shed a spotlight on the importance of staying updated on sector-specific techniques, tactics and procedures (“TTPs”), and preventative and remediation actions. This Client Alert will: (1) provide a brief background on the nature and risks of ransomw...

To embed, copy and paste the code into your website or blog: Cybersecurity breaches against businesses in the form of ransomware attacks have risen drastically in recent years.  These attacks can be particularly difficult on a company’s bottom line especially in conjunction with the Covid-19 pandemic. While most companies now carry insurance covering ransomware attacks; nevertheless, such an attack can leave a company’s data, servers and ability to communicate in the lurch for weeks on tim...

To embed, copy and paste the code into your website or blog: It is no secret that ransomware attacks have increased in sophistication and sheer numbers during the COVID-19 pandemic, but a silver bullet solution remains elusive. 1 The government is attacking the problem in multiple ways. Most recently, on January 21, 2021, the Cybersecurity and Infrastructure Security Agency (CISA) kicked off one of their priority campaigns for 2021, Reduce the Risk of Ransomware. As CISA’s efforts make clear,...

To embed, copy and paste the code into your website or blog: Ransomware threats and attacks dominated the cyber news cycle in 2020 and into 2021. With the global pandemic and the uptick in remote work and learning, cybercriminals and nation-state hackers have seized on vulnerabilities in data security infrastructures to wreak havoc and to make money — in the form of cryptocurrency. Not surprisingly, the need and demand for cyber insurance are simultaneously on the rise, and insurance policies...

An OFAC Compliance Checklist For Ransomware Payments By John Reed Stark Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the weekly Coronavirus briefing. Sign up for our Banking newsletter You must correct or enter the following b...

Transnational Criminal Organizations      Country-Level and Policy-Level Programs.  Certain of the sanctions programs are focused on individual countries (the “country-level programs”), while others target specific activities on a global basis such as terrorist and non-proliferation sanctions (the “policy-level programs”).  Under a number of the country-level programs (such as Iran, Syria, N. Korea, Cuba and the Crimea region of Ukraine – the “comprehensive sanctions programs...