On October 1, 2020, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory alert that serves as a warning to entities who have been or will be the victim of a ransomware attack. As such, the crucial decision of whether to pay a ransom now comes with the additional risk of legal scrutiny by a powerful federal agency and the possibility of steep fines.
OFAC Advisory Warns of Civil Penalties for Ransomware Payments
By McDermott Will & Emery on October 13, 2020
Posted In Big Data, Consumer Protection, Cybersecurity, Data breach, Data Privacy, Enforcement