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Alysa Austin

FinCEN Alerts Financial Institutions on Role in Facilitating Ransomware Attacks

October 2, 2020 By Alysa Austin and Privacy, Cyber & Data Strategy Team

With an increase in the frequency, sophistication, and cost of ransomware attacks, the Financial Crimes Enforcement Network (FinCEN) issued an advisory on October 1, 2020 alerting financial institutions to ransomware trends and typologies, and related financial red flags, that may result in a regulatory obligation to report and share information related to ransomware attacks. Based […]

Filed Under: Advisories, Cyber Risk, Cybercrime, Cybersecurity, Data Protection, Data Security, Digital Crimes, Enforcement, Financial Privacy, Privacy Tagged With: Ransomware

OFAC Ransomware Advisory Warns Companies of Potential Civil Liability

October 2, 2020 By Alysa Austin and Privacy, Cyber & Data Strategy Team

Yesterday, October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued its “Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” The advisory begins with the observation that “ransomware attacks have become more focused, sophisticated, costly, and numerous,” citing certain FBI statistics, before making clear what was already well […]

Filed Under: Advisories, Cyber Risk, Cybersecurity, Data Security, Digital Crimes, Enforcement, Financial Privacy, Privacy

FBI Releases IC3 2019 Internet Crime Report

February 20, 2020 By Alysa Austin

The FBI’s Internet Crime Complaint Center (“IC3”) has released its 2019 Internet Crime Report (“Report”) on trends and statistics of suspected cybercrimes from 2019. The Report gathers data from 467,361 complaints, an increase from prior years, with dramatic losses in excess of $3.5 billion. In addition to an explanation of the IC3’s history and operations, […]

Filed Under: Cyber Risk, Cybercrime, Cybersecurity, Digital Crimes Tagged With: Federal Bureau of Investigation (FBI), Law Enforcement, Ransomware

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