Tag Archives: Office of Foreign Assets Control (“OFAC”)

CISA and MS-ISAC Release Joint Guide on Ransomware

On September 30, 2020, the Cybersecurity and Infrastructure Security Agency (“CISA”) and the Multi-State Information Sharing and Analysis Center (“MS-ISAC”) released a joint guide synthesizing best practices to prevent and respond to ransomware.  This guide was published the day before OFAC and FinCEN released their coordinated guidance on ransomware attacks that we previously summarized here. … Continue Reading

Coordinated OFAC and FinCEN Guidance on Ransomware Attacks Underscores the Regulatory Risk and Complexity of Paying a Ransom

Consistent with the U.S. Department of the Treasury’s ongoing focus on cyber-enabled financial crime, on October 1, 2020, two components of the Treasury Department’s Office of Terrorism and Financial Intelligence issued guidance on ransomware-related payments.  One, an advisory issued by the Office of Foreign Assets Control (“OFAC”), describes the significant U.S. sanctions risks of facilitating … Continue Reading
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