On October 1, 2020, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory regarding the potential sanctions risk for entities that facilitate ransomware payments. OFAC defined “ransomware” as:
A form...more
11/19/2020
/ Coronavirus/COVID-19 ,
Cybersecurity ,
Department of Defense (DOD) ,
Department of Health and Human Services (HHS) ,
International Emergency Economic Powers Act (IEEPA) ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Personal Information ,
Popular ,
Ransomware ,
State Attorneys General ,
Trading with the Enemy Act
The Financial Crimes Enforcement Network (“FinCEN”) and the Office of Foreign Assets Control (“OFAC”) have recently stepped up the pressure on virtual currency companies. Increased regulatory scrutiny has largely taken the...more