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Cyber Crimes SDN List Cyber Attacks

Alston & Bird

LockBit Takedown Indicates Shifting DOJ Cyber Strategy and Has Implications for Ransomware Victims

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On May 7, 2024, the United States unsealed an indictment against Dmitry Yuryevich Khoroshev, one of the leaders of the Russian-based ransomware group LockBit, for his alleged involvement in developing and distributing the...more

Kohrman Jackson & Krantz LLP

Why are Company Ransomware Payments Dropping Dramatically?

Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more

Lowenstein Sandler LLP

Understanding the Additional Risks When Making a Ransomware Payment

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Ken Fishkin talks to Doreen M. Edelman and Christian C. Contardo of the firm’s Global Trade & National Security practice, about ransomware and the risks of making payments when data is held for ransom, such as exposure to...more

The Volkov Law Group

Ransomware and OFAC Sanctions Compliance

The Volkov Law Group on

We have all read about the high-profile malicious cyber-attacks and ransomware demands and payments.  The Colonial Pipeline case demonstrated how responsive law enforcement can be in tracking down perpetrators and recovering...more

Akerman LLP

New OFAC Advisory Offers Steps to Reduce Sanctions Risks for Entities Facilitating Ransomware Payments

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Companies that make ransomware payments, whether they be the victim of a ransomware attack or entities that facilitate such payments, should review the updated advisory issued by U.S. Department of the Treasury's Office of...more

Jones Day

OFAC Issues Additional Ransomware Guidance and Designates Virtual Currency Exchange

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The U.S. Treasury Department has issued an updated ransomware advisory that highlights sanctions risks associated with ransomware payments and details proactive steps companies can take to mitigate these risks....more

Hogan Lovells

Ransomware sanctions and the U.S. Government's latest strategy to address cyber threats

Hogan Lovells on

The decision to pay millions to a cyber criminal has never been easy, but it is now even more complex. The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory on September 21,...more

Bilzin Sumberg

OFAC Warns Companies Again Not to Pay Ransomware Demands and Offers Helpful Hints for Mitigating Risks

Bilzin Sumberg on

On September 21, 2021, The Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued an Updated Advisory “to highlight the sanctions risks associated with ransomware payments in connection with malicious...more

Polsinelli

Department of the Treasury Issues New Advisory Regarding Ransomware Payments

Polsinelli on

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) released its Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments (the “Updated Advisory”)....more

Husch Blackwell LLP

Biden Administration Imposes New Russia Sanctions And Establishes Framework For Future Expansion Of Russian Sanctions Regime

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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...more

Blank Rome LLP

The Treasury Department’s Office of Foreign Assets Control Issues Advisory Warning to Victims of Ransomware Attacks

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Ransomware demands have surged during the pandemic. Earlier this month, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an advisory pertaining to the financial implications of succumbing...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Adds Iranian Bitcoin Exchangers’ Names and Wallet Addresses to SDN List, Ushers in “New Approach” to Sanctions Enforcement

• On November 28, 2018, OFAC designated two Iran-based individuals who helped exchange cryptocurrency (bitcoin) into fiat currency on behalf of alleged ransomware perpetrators who targeted U.S. businesses and municipal...more

Holland & Knight LLP

Obama Uses Executive Order Authority to Respond to Malicious Russian Cyber Activity - President Amends EO 13964 From April 2015 in...

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President Barack Obama amended Executive Order (EO) 13964 on December 29, 2016, in response to intelligence community findings that the Russian government engaged in malicious cyber activity with respect to the U.S. electoral...more

Bass, Berry & Sims PLC

Hey! Did You Hear? The United States Imposed Sanctions Against Russia.

For those of us who live and breathe U.S. economic sanctions, we are used to most people largely ignoring what goes on in our world. The United States’ recent imposition of new sanctions against Russia, however, was not one...more

Orrick, Herrington & Sutcliffe LLP

United States Goes on the Offensive Against International Cybercrime - 2015 Cybersecurity Executive Order

On April 1, President Obama signed an Executive Order to combat the "national emergency" sparked by a rapidly evolving global cybercrime environment. The Executive Order directs the U.S. Treasury Department to impose...more

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