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Damned if you do, damned if you don’t. Imagine that you have been ransomwared, all your business data is locked down and you don’t have the keys. You may have the option to pay the hackers who have kindly locked your business down.
You now have a few decisions in front of you. Rebuild the systems that have been encrypted, which should be relatively straight forward, but painful, if your BCM plans are upto date and work. Or pay the ransom and hope that you get the keys to un-encrypt your data, both have pros and cons. Both will be expensive.
Here’s a twist, if you decided to pay you may have been breaking US sanctions, forbidding payments to sanctioned individuals. That’s before you have to work through the minefield of paying monies to illegal entities who fund terrorism, people trafficking and drugs. Both of which could incur the legal wrath of the US or your Government.
The US Treasury may have helped find a way, albeit not a clear way through. By recommending that the Treasury’s Office of Foreign Assets Control (OFAC) is contacted before a decision is made to make a payment. The implications of making payments without consulting OFAC could result at best in huge fines.
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