News & Analysis as of

Ransomware New Guidance

Bressler, Amery & Ross, P.C.

NY Department of Financial Services Issues Guidance to its Regulated Industry As a Result of the Ongoing Global Conflict

The New York State Department of Financial Services (the “Department”) has issued guidance (“Guidance”) to all individuals and entities regulated by the Department (“Regulated Entities”) to underscore the importance of...more

Schwabe, Williamson & Wyatt PC

Agencies Release Actionable Guidance on Play Ransomware

The United States Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI), and the Australian Signals Directorate’s Australian Cyber Security Centre (ASD’s ACSC) have issued an...more

Holland & Hart LLP

OCR Provides Guidance to the Healthcare Industry to Combat Ransomware Attacks

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In the spirit of National Cybersecurity Awareness Month, the Office of Civil Rights (“OCR”) released a new video on October 17, 2024, to promote awareness on ransomware trends in the healthcare industry and how HIPAA subject...more

WilmerHale

Federal Agencies Publish New Version of the #StopRansomware Guide

WilmerHale on

On May 23, 2023, the Cybersecurity and Infrastructure Security Agency (CISA) published a second edition of the #StopRansomware Guide (the Guide). The Guide, first published in September 2020, aims to help organizations reduce...more

Jones Day

French Law Authorizes Insurability of "Cyber-Ransoms" Paid by Victims, Subject to Prompt Filing of Complaint

Jones Day on

France's Orientation and Programming Law of the Ministry of the Interior ("LOMPI law"), published in the Official Journal of January 25, 2023, amends the insurance coverage of losses and damages paid in response to...more

Barnea Jaffa Lande & Co.

Ransomware Attacks – Israeli Justice Ministry Recommendations

In light of the increase in fraud crimes in the digital space, a team from the Israeli Justice Ministry has formulated recommendations for defining a policy to contend with ransomware attacks. The recommendations relate to...more

Robinson+Cole Data Privacy + Security Insider

FBI + CISA Warn Companies (Especially Health Care) About Zeppelin Ransomware

The FBI and CISA recently issued a Cybersecurity Alert entitled “#StopRansomware: Zeppelin Ransomware” providing an alert to organizations about the proliferation of Zeppelin ransomware attacks and information on the...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - May 2022 #2

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CYBERSECURITY NIST - Releases Guidance on Supply Chain Security - The National Institute of Standards and Technology (NIST) Information Technology Laboratory recently released guidance entitled “Software Supply Chain...more

Orrick - Finance 20/20

FinCEN Urges Financial Institutions to Focus on Detecting Proceeds of Foreign Public Corruption

Orrick - Finance 20/20 on

The Financial Crimes Enforcement Network (“FinCEN”) recently issued an advisory urging financial institutions (including certain cryptocurrency businesses) to implement controls to help detect proceeds of foreign public...more

Polsinelli

Federal Banking Regulators Issue New Guidance for Complying with 36 Hour Cybersecurity Incident Reporting Requirement

Polsinelli on

On March 29, 2022, federal banking regulators issued important guidance for how banking organizations can comply with the upcoming requirement to notify regulators within 36 hours of ransomware or other disruptive...more

Robinson+Cole Data Privacy + Security Insider

Colorado Attorney General Issues Data Security Best Practices Guidance Document

The office of the Colorado Attorney General, Phil Weiser, recently issued a data security best practices guidance document as part of his office’s role in “implementing and enforcing data security and data privacy laws.” In...more

Woods Rogers

Banks Will Have 36 Hours to Report Cyberattacks Under New Rule

Woods Rogers on

The federal banking agencies recently issued a final regulation that will require a bank to notify its primary federal regulator of a cyberattack, or computer-security incident, no later than 36 hours after the bank...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

Polsinelli

Federal Banking Regulators Issue Rule Requiring 36 Hour Notice of Ransomware and Other Disruptive Cybersecurity Incidents

Polsinelli on

On November 18, 2021, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency issued a joint final rule to require banking...more

Fisher Phillips

Federal Authorities Warn Employers Against Ransomware Payouts and Offer New Guidance on Preventing and Responding to Cyberattacks

Fisher Phillips on

Federal officials have recently warned employers and businesses that they could have insult added to injury if they respond to cyberattacks by making ransomware payments – increasingly requested through cryptocurrency – as...more

King & Spalding

OFAC Puts Virtual Currency Industry On Notice

King & Spalding on

Guidance Demonstrates OFAC’s Expectations for Sanctions Compliance by Cryptocurrency Industry - On October 15, 2021, the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury published Sanctions...more

K2 Integrity

Treasury Releases Guidance for the Virtual Currency Industry and Analysis on Ransomware Trends

K2 Integrity on

Office of Foreign Assets Control (OFAC) released detailed sanctions compliance guidance for the virtual currency industry (the Guidance). The Guidance provides an overview of OFAC sanctions requirements and lists several best...more

Sheppard Mullin Richter & Hampton LLP

Sanctions Compliance for Crypto: OFAC Issues Guidance Targeting Virtual Currency Industry

Last Friday, the Office of Foreign Assets Control (OFAC) published more targeted guidance for digital asset companies related to compliance with sanctions and best practices for mitigating risks. This guide comes on the heels...more

Perkins Coie

OFAC Releases New Detailed Guidance for the Digital Currency Industry

Perkins Coie on

On October 15, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) released guidance on sanctions compliance for the digital currency industry, the agency’s most detailed guidance to date on...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

K2 Integrity

OFAC Releases Updated Ransomware Advisory and Announces First Designation of Cryptocurrency Exchange

K2 Integrity on

On 21 September 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory that highlights the sanctions risks associated with making ransomware payments. OFAC reiterated...more

Adams & Reese

The Department of Treasury Issues Guidance Regarding Sanctions Risks Inherent to Facilitating Ransomware Payments

Adams & Reese 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

Goodwin

NYDFS Issues Ransomware Guidance Aimed At Combatting Rising Cyber Threats

Goodwin on

The exponential rise in ransomware attacks in the past year has everyone on high alert, not least of which are regulators. Following on the heels of a June 2, 2021 White House memo addressing ransomware prevention, on June...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Issues Ransomware Guidance

The New York State Department of Financial Services recently announced new guidance addressing ransomware attacks, and highlighting cybersecurity measures to significantly reduce the risk of an attack. The guidance comes as...more

Jones Day

New York Department of Financial Services Announces New Guidance on Ransomware Prevention

Jones Day on

On June 30, 2021, the New York Department of Financial Services ("NYDFS") identified key cybersecurity measures to prevent and prepare for ransomware attacks. ...more

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