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leroux
Community Champion

Potential Sanctions Risks for Facilitating Ransomware Payments

An  advisory – which can be read in full here – was issued by the Department of the Treasury’s Office of Foreign Assets Control (OFAC). It contains a stark warning that financial institutions, cyber security insurance firms and companies involved in digital forensics and incident response risk violating OFAC regulations if they are found to have assisted in making a payment.

“This advisory highlights OFAC’s designations of malicious cyber actors and those who facilitate ransomware transactions under its cyber-related sanctions programme,” said the Treasury in a statement.