On February 28, 2024, President Biden announced an Executive Order directing the Department of Justice to promulgate regulations that restrict or prohibit transactions involving certain bulk sensitive personal data or United States Government-related data and countries of concern or covered persons. The DOJ’s initially identified countries are China (including Hong Kong and Macau), Russia, Iran
On this episode of the R&G Tech Studio, litigation & enforcement partner Ama Adams, who’s also the managing partner of Ropes & Gray’s Washington, D.C. office, sits down with data, privacy & cybersecurity partner Fran Faircloth to discuss how she helps clients bridge the gap between ongoing national security concerns and the rapidly evolving
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