FINCast Ep. 19 - The DPRK Sanctions Program
On January 8, 2025, the U.S. Department of Justice (“DOJ”) issued its final rule to implement Executive Order 14117 aimed at preventing access to Americans' bulk sensitive personal data and government-related data by...more
On March 21, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) officially lifted sanctions on Tornado Cash, the decentralized cryptocurrency mixer it had blacklisted in August 2022....more
Today, April 8, 2025, the U.S. Department of Justice’s Final Rule restricting transfers of bulk sensitive personal data and U.S. government-related data becomes effective, implementing former President Biden’s Executive Order...more
On April 8, 2025, a sweeping rule issued by the US Department of Justice (DOJ) will take effect. The rule imposes restrictions—and in some cases, outright prohibitions—on US companies in connection with certain types of data...more
To help you stay on top of the latest news, our AI practice group has compiled a roundup of the developments we are following....more
The Federal Bureau of Investigation (FBI) recently warned employers of increasing security risks from North Korean workers infiltrating U.S. companies by obtaining remote jobs to steal proprietary information and extort money...more
On February 21, 2025, Bybit, one of the world’s largest cryptocurrency exchanges, suffered a cyberattack resulting in the theft of approximately $1.5 billion in Ethereum tokens. This attack marked a new pinnacle in the...more
North Korean IT operatives are infiltrating U.S. and Western companies using stolen or fabricated identities, VPNs, and U.S.-based co-conspirators to gain unauthorized access to corporate systems. These insider threats pose...more
The Google Threat Intelligence Group (GTIG) recently published a new report “Adversarial Misuse of Generative AI,” which is well worth the read. The report shares findings on how government-backed threat actors use and misuse...more
Throughout 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control ("OFAC") published 12 enforcement actions regarding alleged sanctions violations by foreign and domestic persons and entities....more
Remote worker fraud is expected to continue to proliferate in 2025. Fully remote hiring and work, particularly in the technology sector, continues to pose unique business and legal risks for companies. Just in December 2024,...more
On January 2, 2025, the U.S. Department of Commerce's Bureau of Industry and Security (BIS) Export Enforcement published its 2024 Year in Review, spotlighting key accomplishments in protecting U.S. national security. In this...more
On Friday, December 27, 2024, the Justice Department issued a final rule to address “urgent national security risks posed by access to U.S. sensitive personal and government-related data from countries of concern and covered...more
Major U.S. companies targeted by North Korean threat actors disguised as remote IT workers. Multiple individuals responsible for stealing millions of dollars have already been apprehended by U.S. authorities....more
In today's fast-paced digital world, businesses often seek to access a global pool of skilled professionals by turning to remote talent to fill gaps in their IT needs. Although this practice has many advantages, it also...more
In a significant development, the Department of Justice (DOJ) indicted 14 North Korean nationals on December 11, 2024 for their involvement in a sophisticated scheme to defraud U.S. companies and violate international...more
On November 26, the U.S. Fifth Circuit Court of Appeals overturned sanctions imposed by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) against a decentralized cryptocurrency mixing service (a...more
On November 26, 2024, the Fifth Circuit issued an opinion in Van Loon v. Department of the Treasury that invalidated economic sanctions imposed by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) on...more
ComplexDiscovery Editor’s Note: Sandra Joyce’s keynote at the Tallinn Digital Summit 2024 offers a vital look into the shifting dynamics of the cyber threat landscape. As an annual gathering of leaders from the digitally...more
The U.S. Department of Justice (DOJ) and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) have recently announced two enforcement actions that demonstrate the U.S. government's aggressive and...more
The New York State Department of Financial Services (“NYDFS”) has urged organizations to exercise caution when hiring remote employees due to an increase in individuals located in the Democratic People’s Republic of Korea...more
The Commerce Department issued new guidance for financial institutions on best practices for compliance with the Export Administration Regulations (EAR). Available here, the guidance emphasizes enhanced due diligence, ongoing...more
You are reading the October 2024 Update of the Bass, Berry & Sims Enforcement Roundup, where we bring notable enforcement actions, policy changes, interesting news articles, and a bit of our insight to your inbox. -...more
North Korea Sanctions Violations - In a recent enforcement action, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) imposed an $860,000 penalty on Vietnam Beverage Company Limited (“VBCL”), a...more
Regulators around the world are concerned with foreign subsidies. In the United States, on 10 October 2024, the Federal Trade Commission voted 5–0 to adopt new rules under the Hart-Scott-Rodino (“HSR”) Antitrust Improvements...more