News & Analysis as of

Office of Foreign Assets Control (OFAC) › Regulatory Oversight › Cybersecurity

Ballard Spahr LLP

Federal banking regulators issue statement on banks’ crypto-asset activities

Ballard Spahr LLP on

Federal banking regulators have issued a joint statement in an effort to provide clarity on banks’ engagement in crypto-asset related activities....more

Morgan Lewis

OFAC Issues Updated Advisory on Sanctions Risks for Facilitating Ransomware Payments

Morgan Lewis on

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an “Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” This advisory continues prior advisory...more

Foley Hoag LLP

Ransomware Payments – OFAC Updates its Advisory and Congress Gets Involved

Foley Hoag LLP on

Ransomware payments continue to be a focus of the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”). As previously reported by Foley Hoag, on October 1, 2020, OFAC released an advisory regarding potential...more

Fenwick & West LLP

OFAC Helps Those Who Help Themselves: How a Ransomware Response Plan Can Help Avoid Sanctions Enforcement for Ransom Payments

Fenwick & West LLP on

Many companies have a “no ransomware payment” stance until faced with a ransomware attack, especially an attack that causes significant business disruption. At that point, the company may reconsider its stance (or at least...more

Cadwalader, Wickersham & Taft LLP

White Collar Crime Law Enforcement in a Trump Justice Department - 8 Predictions

Cadwalader, Wickersham & Taft LLP on

After a conventional presidential campaign, determining the policy priorities and direction of the incoming administration with respect to the Justice Department’s white collar law enforcement responsibilities can be a...more

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