Treasury Stance On Ransomware Payment Could Hurt Targets

By Alexandra Scheibe, Joseph Evans and Laura Jehl (November 17, 2020, 5:03 PM EST) -- In the wake of a cyberattack, digital forensic security consultants offering incident response services, or DFIRs, are called in to rush to the rescue. If a victimized company determines to pay a ransom, it typically requests that a DFIR facilitate the required ransom payment, since most victimized companies are not equipped to make ransom payments in virtual currency.

However, a DFIR must determine whether it can, in fact, execute a transaction in virtual currency.

During a Nov. 12 conference, representatives of the U.S. Department of the Treasury's Financial Crimes Enforcement Network[1] indicated that if a DFIR executes ransom payments in virtual...

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