One sees further collaboration on cyber between Australia and the U.S, as the Office of Foreign Asset Control (OFAC), adds Aleksandr Ermakov to Cyber-Related Designation list. An individual accused of the Medibank cyber attack. In an announcement earlier today, that…
Thank you for posting Olaf Classen, a very good point. If the hacker compromised Medibank, why are they not sanctioned by the U.S and EU? Is the duty to protect U.S and EU firms any different? View Original Post
Banning ransomware payments is a bit like banning Kidnap and Ransom payments. It’s the right thing to do, until your family is being held hostage. Banning ransomeware makes great headlines. But until there’s an alternative it won’t or cannot happen.…
Thank you for posting Olaf Classen. There are plenty of reports that demonstrate that Cyber-crime is more profitable than cocaine production in the 1970’s, generates more income than the drugs trade, prostitution and human tracking. As one posted earlier this…
How will banning the payment of ransomware effect most companies affected by cyber attacks? The Department of Treasury issued guidance in 2020 on making ransomware payment to threat actors who are sanctioned persons or in comprehensively sanctioned jurisdictions risk violating…
A lot is being talked about recently of cyber incident response and paying ransomware fines. From past experience I can say that when you are in the middle of a cyber attack, the last thing you were initially thinking about…
A very interesting paper on the resent re-issue of OFAC rules and associated Executive Orders and history of OFAC and cyber, bringing up to date the September 2022 rewrite by the Department of Treasury (DoT). Adhering to OFAC regulations is…
The U.S. Department of Treasury has reissued its Cyber-Related Sanctions Regulations for OFAC in their entirety, one suspects to make OFAC clearer, reducing complexity. This document may make for bedtime reading. But its important bedtime reading for organisations that deal…
The FBI is looking for changes in DoT OFAC reporting rules, pushing for clarifications to the rules governing how to engage with sanctioned ransomware groups and SEC cyber incident reporting proposals. To add a national security†exception to its proposed rule…
The UK Information Commissionaire Office (ICO) and National Cybersecurity Center (NCSC) have issued a joint statement and advice to the UK Law society with about on paying ransomware. Lawyers should not advise clients to pay ransomware demands should they fall…
