To embed, copy and paste the code into your website or blog: Both the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury have issued advisories recently regarding regulatory considerations financial institutions should take into account when processing ransom payments. These advisories are especially noteworthy as we enter the new year. We saw a substantial increase in ransomware attacks during the COVID-19 pandemic and anticipate that they will continue in 2021. These attacks are also becoming more layered and sophisticated with cybercriminals gaining access to computer networks for extended periods of time.