Treasury Department Issues Ransomware Advisories

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The U.S. Department of the Treasury issued two advisories to assist U.S. individuals and businesses in efforts to combat ransomware scams and attacks, which continue to increase in size and scope.

The Financial Crimes Enforcement Network (FinCEN) advisory, entitled Advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Paymentsprovides information on the role of financial intermediaries in payments, ransomware trends and typologies, and related financial red flags. It also provides information on effectively reporting and sharing information related to ransomware attacks.

The Office of Foreign Assets Control (OFAC) advisory, entitled Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments, highlights the sanctions risks associated with facilitating ransomware payments on behalf of victims targeted by malicious cyber-enabled activities.

October is National Cybersecurity Awareness Month. Additional information and resources on cybersecurity from the Cybersecurity and Infrastructure Security Agency and the National Cybersecurity Alliance can be found here.

View the ransomware advisories from FinCEN and OFAC.

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