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Ransomware

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Conference of State Bank Supervisors Releases Cyber-Security Tools for Non-Bank Financial Services Companies to Improve their Cyber-Security

by Scott J. Hyman |

The Conference of State Bank Supervisors recently released new tools for nonbank financial services companies to improve their cybersecurity posture.   The CSBS - Baseline Nonbank Exam Program V1.0 and the CSBS - Enhanced Nonbank Exam Program V1.0 are tools used by state examiners nationwide to assess the cyber preparedness of nonbank entities, and provides these institutions the ability to improve their… Read More

Department of Treasury Says Paying Off Ransomware May Run the Risk of Sanctions

by Scott J. Hyman |

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory yesterday, alerting companies who engage with victims of ransomware attacks of potential sanctions risks for facilitating ransomware payments.  This advisory highlights OFAC’s designations of malicious cyber actors and those who facilitate ransomware transactions under its cyber-related sanctions program. It identifies U.S. government resources for reporting… Read More