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Cyber Threats Office of Foreign Assets Control (OFAC)

WilmerHale

Building Ransomware Resilience - A Proactive Strategy for Businesses and Regulators

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The rise of ransomware attacks has prompted the international community to explore a range of approaches to deter these attacks, including the use of sanctions, the further development and instantiation of norms governing...more

Dorsey & Whitney LLP

U.S. Treasury Department Takes Action Against Russian Darkmarket Entity as Latest Government Move Against Cybercrime

Dorsey & Whitney LLP on

On April 5, the U.S. Treasury Department's Office of Foreign Assets Control (“OFAC”) in the U.S. Department of the Treasury named Genesis Market to OFAC’s Specially Designated Nationals List (“SDN List”). Genesis Market is...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

Orrick, Herrington & Sutcliffe LLP

Cybersecurity Insurance and Managing Risk: 10 Things to Know

The number of cybersecurity incidents continues to increase, with the average cost of a data breach in 2022 reaching an all-time high of $4.35 million, up from $3.86 million in 2020. In addition to the increasing number of...more

Hogan Lovells

Building a resilient tech strategy: Cyber attacks

Hogan Lovells on

Being an innovative business comes with its challenges and legal risks. In recent years, there has been a major increase in cyber attacks, and this is a real risk for every business. Aside from the cyber attack itself,...more

Williams Mullen

Export Agencies Continue Emphasis on Restricted Party Screening Under Export Control Laws

Williams Mullen on

The U.S. Government is continuing its frequent and highly visible use of denied party lists as an important tool in administering the export control laws. Each of the Bureau of Industry and Security (BIS), the Office of...more

Davis Wright Tremaine LLP

How to Handle a Ransomware Attack

Small and medium-sized business are prime targets for ransomware attacks. After breaching a business's computer network and encrypting the company's key files and systems, attackers will demand a ransom payment in exchange...more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy, Cyber & Data Strategy Newsletter – November 2021

Alston & Bird on

Selected Developments in U.S. Law - Department of Defense Suspends the CMMC Pilot Program and CMMC Requirements in DoD Solicitations Pending Major Changes for CMMC 2.0. On November 5, 2021, the Department of Defense...more

Morrison & Foerster LLP

U.S. Government Takes Increasingly Aggressive Actions Targeting Ransomware

Morrison & Foerster LLP on

On November 8, 2021, the U.S. Department of Justice (“DOJ”), U.S. Department of the Treasury (“Treasury”), and the U.S. Department of State (“State”) made several significant announcements regarding recent U.S. government...more

Troutman Pepper

Lawmakers Aim to Limit Ransomware Response Options

Troutman Pepper on

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

King & Spalding

Ransomware on the Rise in Critical Infrastructure Sector

King & Spalding on

Recent ransomware attacks against U.S. critical infrastructure, which includes the energy sector’s production of oil and natural gas, and other sources of electricity and power, have shed a spotlight on the importance of...more

Holland & Hart LLP

President Biden Gets Tough on Russia with New Executive Order

Holland & Hart LLP on

President Biden issued yesterday an Executive Order imposing sweeping sanctions on Russia in response to Russia’s cyberespionage campaign against the United States, efforts to influence the 2020 presidential election, its...more

Womble Bond Dickinson

Best Practices for Managing Cyber Risks in a Cyber World

Womble Bond Dickinson on

The shift to a work-from-home economy has enabled companies and employees to continue functioning during the pandemic but one unintended consequence of this overnight transition has been the increased risk of cyberattacks....more

Wiley Rein LLP

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

Wiley Rein LLP on

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

ArentFox Schiff

New York DFS Circular Letter No. 2 (2021): Cyber Risk Framework for Property & Casualty Insurers

ArentFox Schiff on

On February 4, 2021, the New York Department of Financial Services (DFS) issued Circular Letter No. 2 (2021) to all authorized property and casualty insurers in New York, outlining a “Cyber Risk Framework” that all authorized...more

Arnall Golden Gregory LLP

Warnings of Ransomware Activity Targeting the Healthcare Sector and Potential Sanctions for Making Ransomware Payments

CISA, FBI, & HHS Warn of Ransomware Activity Targeting the Healthcare Sector - On October 28, 2020, the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), and the Department of...more

White & Case LLP

US Government Warns Healthcare Sector of Targeted Ransomware: Outlines Best Practices and Provides Technical Details of Attack

White & Case LLP on

On October 28, 2020, a coalition of US government entities consisting of the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), and the Department of Health and Human Services...more

Foley Hoag LLP

First A Ransomware Attack, Now Sanctions? New OFAC Advisory Warns of Sanctions Risks for Facilitating Ransomware Payments

Foley Hoag LLP on

On October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an advisory regarding potential sanctions risks related to facilitating ransomware payments... OFAC is the federal...more

Alston & Bird

OFAC Ransomware Advisory Warns Companies of Potential Civil Liability

Alston & Bird on

Thursday, October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued its “Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.”...more

Alston & Bird

FinCEN Alerts Financial Institutions on Role in Facilitating Ransomware Attacks

Alston & Bird on

With an increase in the frequency, sophistication, and cost of ransomware attacks, the Financial Crimes Enforcement Network (FinCEN) issued an advisory on October 1, 2020 alerting financial institutions to ransomware trends...more

WilmerHale

Agencies Issue Guidance on North Korean Cyber Threat

WilmerHale on

On April 15, 2020, the US Departments of State, the Treasury, and Homeland Security and the Federal Bureau of Investigation issued an unusual joint advisory regarding North Korea’s malign cyber activities. The Advisory offers...more

Cadwalader, Wickersham & Taft LLP

OFAC Publishes Cyber-Related Sanctions Regulations

On December 31, 2015, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued regulations implementing Executive Order 13694 of April 1, 2015, which authorized the imposition of economic sanctions on...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

Carlton Fields

The War Against Cyber Threats: President Obama Ups the Ante

Carlton Fields on

Focusing on overseas cyber threats, President Obama issued an Executive Order on April 1, 2015, which grants authorization to impose sanctions on individuals and entities engaged "in malicious cyber-enabled activities that...more

Polsinelli

President Obama Signs New Executive Order Targeting Significant Malicious Cyber-Enabled Activities

Polsinelli on

On April 1, 2015, the Obama Administration issued an Executive Order that will sanction individuals and entities that attempt, carry out or support malicious cyber-enabled activities that pose a significant threat to U.S....more

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