On October 1, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published an advisory to alert companies on potential sanctions risks related to ransomware payments (the “Advisory”).[1] While ransomware attacks, by design, create business critical problems requiring swift attention and remediation, the Advisory cautions that victims of ransomware attacks, and ransomware-related services providers, must balance such considerations against the risk of sanctions liability.
Continue Reading Between a Rock and a Hard Place: OFAC Issues Advisory on Ransomware Payments
