What is interesting is that the U.S Department of Treasury has made clear that payment of ransomware to individuals, organizations or jurisdictions

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What is interesting is that the U.S Department of Treasury has made clear that payment of ransomware to individuals, organizations or jurisdictions on OFAC is a breach of regulation, that comes with heavy penalties. While one is not aware of any caselaw yet, ransomware payments in $ should not take place, as OFAC effects U.S citizens and therefore U.S Financial Institutions, including insurers.

Ted Dziekanowski

#cybersecurity #cyberriskmanagement #cyberinsurance #ransomeware

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