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Cyber Crimes Cybersecurity Economic Sanctions

Fisher Phillips

North Korean Scammers are Posing as IT Freelancers: Here’s How You Can Protect Your Business

Fisher Phillips on

Businesses should be aware of growing security risks from North Korean IT workers targeting freelance contracts from businesses in the U.S. and other countries. Typically, these workers fraudulently claim they are from the US...more

Alston & Bird

DOJ Unseals Indictment of Evil Corp Member, While OFAC Announces New Evil Corp Sanctions

Alston & Bird on

On October 1, 2024, the Department of Justice (“DOJ”) unsealed an indictment against Aleksandr Viktorovich Ryzhenkov (Александр Викторович Рыженков), a member of the ransomware group Evil Corp.  The indictment charges...more

K2 Integrity

The North Korean Crypto Threat

K2 Integrity on

Executive Summary - The North Korean threat to the crypto ecosystem is the highest form of immediate risk to the crypto-economy driven by a regime that seeks to profit from its misuse to reinforce its regime and fuel all its...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - October 2022 - OFAC Reissues Cyber-Related Sanctions Regulations

An inherent aspect of any new technology is that it doesn’t take long for bad actors to figure out how it can be weaponized for nefarious purposes. Cyber-related technologies represent an increasingly dangerous area of risk...more

Lowenstein Sandler LLP

Understanding the Additional Risks When Making a Ransomware Payment

Lowenstein Sandler LLP on

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

How to Avoid Sanctions Liability Following a Ransomware Attack

The Volkov Law Group on

Ransomware attacks are on the rise and companies everywhere should be taking action to strengthen their cybersecurity defenses and resiliency to ensure their internal systems are able to withstand cybercrime attacks. ...more

Wyrick Robbins Yates & Ponton LLP

Worried about Ransomware? Ten Steps to Help Legal Counsel Understand and Mitigate the Risk

Executive teams in the U.S. live in fear of a successful ransomware attack, and who can blame them? Attacks are both prevalent and evolving. Many attackers have shifted from encrypting data and locking up systems to also (or...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

Akerman LLP on

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

Society of Corporate Compliance and Ethics...

US sanctions Russian research facility for alleged cybercrimes

CEP Magazine (January 2021) - The United States Department of the Treasury’s Office of Foreign Assets Control announced sanctions against the State Research Center of the Russian Federation FGUP Central Scientific Research...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Releases Advisory on Sanctions Risk Involving Ransomware Payments

In early October, the United States Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory, warning of the potential risk of sanctions to companies and individuals who pay ransomware payments. The...more

Cozen O'Connor

Happy Cybersecurity Awareness Month: OFAC and FinCEN Issue New Advisories on Ransomware Payments

Cozen O'Connor on

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) kicked off National Cybersecurity Awareness Month with a pair of advisories relating to...more

Bilzin Sumberg

OFAC Issues Regulatory Advisory Warning Against Facilitating Ransomware Payments

Bilzin Sumberg on

On October 1, 2020, the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an “Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” The Advisory, which does not carry the...more

Hogan Lovells

Treasury Department issues ransomware guidance in response to significant uptick in ransomware attacks

Hogan Lovells on

In response to the significant rise in ransomware attacks since the start of the COVID-19 pandemic and just in time for Cybersecurity Awareness Month, the Department of the Treasury’s Financial Crimes Enforcement Network...more

Robinson+Cole Data Privacy + Security Insider

OFAC Issues Advisory on Sanctions for Facilitating Ransomware Payments

On October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory “to highlight the sanctions risks associated with ransomware payments related to malicious cyber-enabled...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

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