Between a Rock and a Hard Place: Advisories Target Ransomware Victims, Insurers

On Oct.1, the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) in the U.S. Department of the Treasury collectively issued a pair of advisories warning ransomware victims, their insurers, and their incident response teams of potential sanctions for facilitation a ransomware payment. Joshua Mooney, Chair of the firm’s Cyber Law and Data Protection Group and Linda D. Perkins, Counsel and Member of the firm's Cyber Law and Data Protection group discuss implications ransomware can have on insurers in their recent article in The Legal Intelligencer, "Between a Rock and a Hard Place: Advisories Target Ransomware Victims, Insurers."