Penalties are Possible for 'Facilitating' Ransomware Payments
An updated Treasury Department advisory spells out the risks cyber insurers and other companies could face for paying ransoms.
In an effort to tamp down the ever-enlarging ransomware threat, the U.S. Department of the Treasury is taking a stiffer stance against companies, including cyber insurance providers, making or “facilitating” an extortion payment.
The department’s Office of Foreign Assets Control (OFAC) put out an updated advisory to underscore the possible sanctions associated with making ransomware payments and the violations that might arise when dealing directly with malicious actors.
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