Category

OFAC

24 September 2021

Five Key Considerations Regarding New U.S. Sanctions to Address Ransomware Threats

On September 21, 2021, the U.S. Department of the Treasury (Treasury) Office of Foreign Asset Control (OFAC) imposed sanctions on a virtual currency exchange called Suex OTC, S.R.O. (Suex), and published an updated advisory on potential risks for those who facilitate ransomware payments. These coordinated actions represent significant moves by … Read More

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22 April 2021

Supreme Court Considers Injury and Typicality Questions in Case With Implications for Data Breach and Privacy Class Action Litigation

On March 30, 2021, the Supreme Court heard arguments in TransUnion LLC. v. Ramirez, a case in which Respondent Ramirez brought a class action lawsuit against Petitioner TransUnion, alleging that it incorrectly placed a flag on his credit report; the flag suggested that Ramirez was on a list of … Read More

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08 October 2020

Office of Foreign Assets Control: Making or Facilitating Ransomware Payments May Violate U.S. Sanctions

On October 1, 2020, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published an advisory that highlights the risk of potential U.S. sanctions law violations if U.S. individuals and businesses comply with ransomware payment demands.1

Ransomware attacks use malware, often injected through phishing schemes, to encrypt a … Read More

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