Preparing for the Next Generation of Ransomware Attacks

Overview

When a ransomware attack happens, it forces many organizations to make a difficult choice—pay the ransom or experience prolonged business or data loss. But there is also another complication for organizations to consider—the Advisory from the Department of Treasury’s Office of Foreign Assets Control, warning companies that payments made to ransomware attackers may constitute violations of U.S. sanctions.

Businesses and family offices need to understand their vulnerability to ransomware attacks, and they should realize how existing sanctions can complicate their response to an attack and expose them to potential monetary penalties.

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