MenuSearch
X

OFAC Releases Advisory on Ransomware Payments

Posted: Sep 23, 2021 | Author: OFAC
compliance  Cybersecurity  OFAC  Ransomware  Technology 

The Office of Foreign Assets Control has released an  Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments. The Advisory emphasizes that the U.S. government continues to strongly discourage the payment of cyber ransom or extortion demands and recognizes the importance of cyber hygiene in preventing or mitigating such attacks.

OFAC has also updated the advisory to emphasize the importance of improving cybersecurity practices and reporting to, and cooperating with, appropriate U.S. government agencies in the event of a ransomware attack. Such reporting, as the advisory notes, is essential for U.S. government agencies, including law enforcement, to understand and counter ransomware attacks and malicious cyber actors.

Subscribe

Sign up to the receive the weekly InfoSight eNewsletter email. Existing subscribers can manage their subscription.

Compliance Questions?

Cornerstone members have access to a wide variety of compliance assistance.

New Podcast

Cornerstone League Podcast

Now available on Spotify and Apple Podcasts.

Perspectives Magazine

Perspectives Vol 16 Issue 3

Read the latest issue.