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A very useful report from the Congressional Research Services that provides some clarity on the legality of ransomware prosecution, ransom payments and related Federal Laws (note the reference to FISMA).
The report explores the legal issues and potential approaches for combating ransomware. Namely the criminal prosecution of attackers, and the legal issues facing ransomware victims making payments. The report also summaries Federal laws governing public and private sector cybersecurity preparedness and incident response.
The report highlights the legal challenges faced by organisations and counterparties such as banks and insurance firms when they deal with a Ransomware attack. The need to adhere to Federal laws and the complexity that making ransomware payments presents, in what is a very stressful situation.
As reported last week by the US Treasury, OFAC plays a significant role in the ransomware payment process. Given a significant number of payments are made in USD, adhering to OFAC is likely to impact international ransomware payments where payments are made in dollars, use US infrastructure, or involve US citizens.
Ted Dziekanowski Brian McCarthy Jason Spezzano
#ransomware #fisma #ofac #theaugustagroup #theaugustaplan #327solutions‚Â #cybersecurity‚Â #supplychainriskmanagement‚Â #cyberriskmanagement‚Â #compliance‚Â #cyberinsurance‚Â #insurance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #esgrisk‚Â #cyberregulation‚Â #esgreporting‚Â #soc2‚Â #esg‚Â #scrm‚Â #cscrm
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