News & Analysis as of

Cyber Crimes Cybersecurity Sanctions

Proskauer - The Capital Commitment

The Trend Continues: Increased Regulatory Focus on Privacy & Cybersecurity for Private Funds

Recent enforcement actions highlight the increased regulatory scrutiny that private funds may face with respect to internal cybersecurity protocols and responses to cyber-crimes and cyber incidents under new and updated...more

Clark Hill PLC

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

Clark Hill PLC on

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

Adams and Reese LLP on

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

Sheppard Mullin Richter & Hampton LLP

First OFAC Sanctions Against a Cryptocurrency Exchange: Could the Designation of SUEX Signal an Enforcement Trend to Combat...

On September 21, 2021, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions on SUEX OTC, S.R.O, a cryptocurrency exchange, for its role in laundering money to ransomware attackers. According...more

Foley & Lardner LLP

SEC Brings First Cybersecurity Enforcement Proceeding in Wake of Risk Alert

Foley & Lardner LLP on

Highlights Areas of High Risk and Examination Priorities for Financial Industry Firms - On September 15, the U.S. Securities and Exchange Commission’s (SEC’s) Office of Compliance, Inspections and Examinations (OCIE),...more

King & Spalding

U.S., China Announce Cybersecurity Agreement During Xi Jiping’s Visit

King & Spalding on

Chinese President Xi Jinping made his first state visit to the United States last week, and his itinerary included meetings with U.S. technology company leaders as well as President Barack Obama. Not surprisingly, his hosts...more

The Volkov Law Group

Checking In on Sanctions Enforcement

The Volkov Law Group on

The Department of Treasury’s Office of Foreign Asset Control continues to ramp up sanctions enforcement. Even with the likely relaxation of the Iran and Cuba sanctions, OFAC has been continuing its aggressive enforcement...more

Orrick - Trade Secrets Group

U.S. Considers Sanctions Against China For Cyber Hacking And Trade Secret Misappropriation

You may have missed it this past weekend, but reports indicate the United States is considering sanctioning Chinese companies and individuals who have benefited from their government’s alleged cyber hacking of U.S. trade...more

Orrick, Herrington & Sutcliffe LLP

Policyholder Insider Quarterly

Five Lessons Health Care Companies Should Learn From Cyberattacks - The American health care industry is under attack by sophisticated hackers seeking access to electronic medical records. Since January, three health...more

Perkins Coie

President Issues Executive Order to Block Assets of Foreign Cyber Attackers

Perkins Coie on

President Obama recently issued Executive Order 13694 (EO 13694 or EO), “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities.” EO 13694 is aimed at deterring cyber attacks,...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

Morrison & Foerster LLP

Cyber Sanctions and National Security

In response to the growing cyber security threats from outside of the United States, the U.S. Government has added an entire new category of sanctioned individuals and organizations to its list of Specially Designated...more

Davis Wright Tremaine LLP

President Obama’s April Fools' Day Order on Cyberterrorism – No Joking About It!

While it’s not clear whether the President’s release today of an Executive Order, "Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities," was purposefully timed to coincide with...more

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