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With the recent updates from the U.S. Department of the Treasury, there has been renewed focus regarding ransomware. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing an advisory to alert companies that engage with victims of ransomware attacks of the potential sanctions risks for facilitating ransomware payments. The advisory also encourages financial institutions and other companies that engage with victims of ransomware attacks to report such attacks to and fully cooperate with law enforcement, as these will be considered significant mitigating factors.
Brian Busto and Aishwarya Minocha of Stetson Cybergroup and Ronald J. Hedges of Dentons US LLP will address:
- What are the legal risks associated with ransomware? - 5 minutes
- What are the guidelines outlined in the Advisory? – 20 minutes
- Why are the guidelines important? – 20 minutes
- How might law firms be affected by the Advisory? – 10 minutes
- How should law firms and their clients respond to a ransomware attack? - 5 minutes