This talk will provide an in-depth review of the U.S. Department of the Treasury’s Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments, issued on October 1, 2020. The Advisory highlights “the sanctions risks associated with ransomware payments related to malicious cyber-enabled activities.” During this talk, Daniel Garrie will review the numerous OFAC-designated cyber actors under its cyber-related sanctions program and other sanctions programs. OFAC has imposed, and will continue to impose, sanctions on these actors who materially assist, sponsor, or provide financial, material, or technological support for those activities. U.S. citizens are prohibited from engaging in transactions with entities on OFAC’s Specially Designated Nationals and Blocked Persons List.
Daniel Garrie will discuss how to respond if your organization falls victim to a ransomware attack, including if the criminal entity is on any OFAC’s lists.
Topics covered in this webinar:
- Overview of Ransomware
- How should an organization respond if facing a ransomware attack?
- OFAC Guidance and Insurance Coverage/Policies