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Office of Foreign Assets Control (OFAC) Cybersecurity Information Sharing Act (CISA) Cybersecurity

Benesch

Supply Chain Security Is National Security: Cyber, Physical, and Personnel Protections

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U.S. supply chain security is increasingly under threat. The White House’s National Security Strategy describes this moment as an inflection point. Many federal agencies have taken charge in elevating the very concept of...more

Jenner & Block

Client Alert: White House Executive Order Seeks to Protect Americans’ Sensitive Personal Data and US Government-Related Data in...

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On February 28, 2024, President Biden issued Executive Order 14117 on Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern (the EO). The EO empowers...more

Troutman Pepper

Cyber Capsule - September 2022

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Welcome to our latest edition of the Cyber Capsule. September followed trends we have seen the last few months, with legislation directed at funding to support state and local governments in their quest to stop cyberattacks;...more

Fenwick & West LLP

To Pay or Not to Pay: Five Critical Approaches to Beating a Ransomware Threat

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It’s the call you hope you never get. Your company has been hit with a ransomware attack. Your systems are offline. Your customer data was stolen by an unknown threat actor who is threatening to leak it. You have lots of...more

Wiley Rein LLP

2022 Cyber Watch List: A look at 2021 and What’s to Come in the Year Ahead

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Privacy In Focus®- In 2021, cyber gained prominence as a top business risk and national security concern with ransomware attacks wreaking havoc on business operations and critical infrastructure. Companies large and small,...more

Davis Wright Tremaine LLP

OFAC Makes Waves in Fight Against Ransomware, but Practical Effects Unclear

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 Advisory on Potential Sanctions Risks...more

Patterson Belknap Webb & Tyler LLP

OFAC Ransomware Guidance: Prepare, Report, and (Preferably) Don’t Pay the Ransom!

As we have previously reported, there has been a major uptick over the past few years—and particularly during the COVID-19 pandemic—in ransomware attacks. These attacks consist of an intrusion by a cybercriminal into the...more

Clark Hill PLC

OFAC Issues Updated Guidance on Paying Ransom – Buyer Beware of Sanction Risks

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On Sept. 21, the Treasury’s Office of Foreign Assets Control (OFAC) issued an Advisory updating and superseding its previous advisory issued Oct. 1, 2020. OFAC is careful to note that the Advisory is not law, and does not...more

Adams and Reese LLP

The Department of Treasury Issues Guidance Regarding Sanctions Risks Inherent to Facilitating Ransomware Payments

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On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory outlining the risks involved with facilitating ransom payments to malicious actors conducting...more

Eversheds Sutherland (US) LLP

OFAC sanctions virtual currency exchange and updates ransomware advisory

On September 21, 2021, the US Department of the Treasury took actions in response to the increasing prevalence and severity of ransomware attacks in the United States and address the central role that virtual currency and...more

Bracewell LLP

Ransomware Victims Told to Think Twice Before Paying Hackers

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On Tuesday, the U.S. Department of Treasury’s Office of Foreign Asset Control (“OFAC”) issued an updated advisory warning all ransomware victims that if they succumb to ransomware demands and pay foreign actors who are...more

Fenwick & West LLP

OFAC Helps Those Who Help Themselves: How a Ransomware Response Plan Can Help Avoid Sanctions Enforcement for Ransom Payments

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Many companies have a “no ransomware payment” stance until faced with a ransomware attack, especially an attack that causes significant business disruption. At that point, the company may reconsider its stance (or at least...more

Alston & Bird

Key Takeaways from OFAC’s Updated Ransomware Advisory

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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.” While this advisory...more

Troutman Pepper

Lawmakers Aim to Limit Ransomware Response Options

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Organizations worldwide were busy this weekend after Keyasa, a software provider servicing more than 40,000 organizations, disclosed that it was the victim of a sophisticated cyberattack that is believed to have been...more

Wiley Rein LLP

Ransomware: The Expanding Threat to Your Data and Steps that In-House Counsel Can Take Now

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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. The government is attacking the problem in multiple ways....more

White and Williams LLP

Federal Advisory Warns Hospitals Facing “Increased and Imminent” Cyber Threat; 400 Hospitals Already Targeted

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A Joint Cybersecurity Advisory (the Advisory) by the Cybersecurity & Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI) and the Department of Health & Human Services (HHS) has warned of an...more

McDermott Will & Emery

OFAC Advisory Warns of Civil Penalties for Ransomware Payments

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The US Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory alert on October 1, 2020, that serves as a warning to entities who have been or will be the victim of a ransomware attack. The...more

Foley & Lardner LLP

White Collar Enforcement and the New Trump Administration: Your Top Ten Questions Answered

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Enforcement activity under the Obama administration often made headlines for the eye-popping level of fines, with the Foreign Corrupt Practices Act (FCPA), Anti-Money Laundering (AML) regulations, and economic sanctions...more

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