Law360 (October 8, 2020, 4:55 PM EDT) -- On Oct. 1, two bureaus of the U.S. Department of the Treasury, the Financial Crimes Enforcement Network and the Office of Foreign Assets Control, each published advisories providing that ransomware victims and any third-party companies involved in making ransom payments to persons under economic sanction may face civil penalties.
Given that these penalties are nothing new, the advisories likely signal a shift in the bureaus' joint efforts to increase oversight of ransomware payments.
Ransomware is a form of malicious software designed to block a company's access to its information technology environment, thus allowing threat actors to extort payments, i.e., ransom, in...
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