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Data Security Office of Foreign Assets Control (OFAC) Cybersecurity

Robinson+Cole Data Privacy + Security Insider

Commerce Department Bans Kaspersky Software in US

In the Biden Administration’s continuing effort to reduce the risk of cybersecurity spyware from foreign adversaries, including Russia, the United States Department of Commerce (Commerce) issued a final rule (Rule) on June...more

WilmerHale

Building Ransomware Resilience - A Proactive Strategy for Businesses and Regulators

WilmerHale on

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

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

Bradley Arant Boult Cummings LLP

Cybersecurity Basics Are Key to Combating Ransomware

The onslaught of ransomware attacks by cybercriminals increases unabated every year, affecting everyone from mom and pop shops on Main Street to corporate lions of Wall Street. Hackers infiltrate an organization's computer...more

Akin Gump Strauss Hauer & Feld LLP

Treasury to Companies: Time to Take Ransomware Reporting Seriously

On September 21, 2021, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published an updated sanctions advisory, providing guidance to companies on sanctions compliance obligations related to ransomware...more

Sheppard Mullin Richter & Hampton LLP

Do You Have a Risk-Based Sanctions Compliance Program?: In the Event of a Ransomware Attack, OFAC Wants to Know

In the wake of increased ransomware attacks over the course of the last several months, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) has updated a guidance it released last year on potential...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - September 2021

In this month’s edition of our Privacy & Cybersecurity Update, we examine the California Privacy Protection Agency's public comment period for the California Privacy Rights Act, the U.K. government's public consultation...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Growing Focus on Cybersecurity

President Joe Biden has been fulfilling his promise to prioritize cybersecurity in his administration: He issued several cybersecurity-related executive orders, and federal regulators under his administration also have turned...more

Womble Bond Dickinson

Best Practices for Managing Cyber Risks in a Cyber World

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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

White and Williams LLP

Don’t You (Forget About Me 2020): Cybersecurity Developments for 2020 in Five Musical References

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Is it hyperbolic to say that never before have we seen a quieter, yet more anticipated and welcome end to a year than in 2020? For some, 2020 is a year the sooner forgotten, the better. In data privacy and security law, a lot...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

White and Williams LLP

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

White and Williams LLP on

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

Jones Day

OFAC Guidance on Ransomware Payments Highlights Sanctions Violations Risk

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The Situation: In an October 1, 2020, Advisory, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") warned that companies that make or facilitate ransomware payments to threat actors who are...more

Troutman Pepper

OFAC Warns Companies About Facilitating Ransomware Payments

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On October 1, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory warning of the perils of facilitating ransomware payments involving malicious cyber-enabled activities. OFAC has...more

King & Spalding

Ransomware: To Pay or Not to Pay?

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Ransomware has emerged as one of the most virulent cybersecurity risks, affecting public and private sector alike. In recent years, ransomware attacks have become more focused, sophisticated, costly, and numerous. Threat...more

Neal, Gerber & Eisenberg LLP

Potential Sanctions Risks 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

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

BakerHostetler

OFAC Weighs in on Ransomware Payments but Stops Short of New Restrictions

BakerHostetler on

Ransomware has hit pandemic proportions and there does not seem to be a clear end in sight. On October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory regarding ransom...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

Carlton Fields

The War Against Cyber Threats: President Obama Ups the Ante

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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

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