Companies may be punished for paying ransoms to sanctioned hackers – U.S. Treasury

Companies may be punished for paying ransoms to sanctioned hackers – U.S. Treasury

Posted October 1, 2020

Companies may be punished for paying ransoms to sanctioned hackers – U.S. Treasury

  • In a pair of advisories, the Treasury’s Office of Foreign Assets Control and its Financial Crimes Enforcement Network warned that facilitators of ransomware payments could be prosecuted even if they or the victims did not know that the hackers demanding the ransom were subject to U.S. sanctions.
  • Before, companies could decide whether or not to pay cybercriminals off. Now that those decisions are being brought under government oversight.
  • Cybercriminals have long used the software to loot their victims. Some countries, notably North Korea, are also accused of deploying ransomware to earn cash.

– Raphael Satter | October 1, 2020