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Recently, the U.S. Treasury Department s Office of Foreign
Assets Control ( OFAC ) sanctioned various individuals
and entities connected to Russia s technology sector and also
expanded sanctions against dealings in Russian sovereign
debt. In addition to these immediate actions, President Biden
also issued a new Executive Order which will significantly expand
OFAC s authority to impose future sanctions against Russia.
Background
The White House published a Fact Sheet which explains the recent sanctions
actions were a response to Russian election interference and
cyber-attacks directed at the United States. A month prior to
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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 ransomware on critical infrastructure; (2) discuss the current ransomware threat landscape; (3) note legal considerations companies should take into account when determining how to respond to ransomware attacks; (4) discuss recent calls for cybersecurity oversight; (5) provide an overview of recent public ransomware incidents; and (6) set forth potential steps companies can take to mitigate the risks of ransomware.
Your Money Or Your Life? forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
WilmerHale
On April 29, 2021, the US Department of the Treasury s Office of Foreign Assets Control (OFAC) announced two settlements of potential civil liability with two companies.
Arnold & Porter
On April 29, 2021, the departments of Justice, Commerce and Treasury announced that they had reached a global resolution with SAP SE (SAP), a multinational software company based in Germany.
Baker Botts
In a first of its kind, on April 29, the U.S. Department of Justice announced1 the entry into a Non-Prosecution Agreement.
Arnold & Porter
The US government is increasingly prioritizing trade enforcement of the tech industry s global data services. This is reflected in SAP SE s global resolution.