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ransomware

Russia Arrests Suspected Members of REvil Ransomware Gang

January 19, 2022 By Kellen Dwyer and Kim Peretti

Russia’s Federal Security Service (“FSB”) issued a press release on January 14, 2022 claiming that it dismantled the REvil ransomware gang by arresting 14 suspected members and seizing computer equipment, luxury vehicles, bitcoin, and fiat currency valued at over $1 million. REvil is a notorious cybercriminal organization that claimed responsibility for a ransomware attack last […]

Filed Under: Cybercrime, Enforcement, International, Russia Tagged With: Cross-border, enforcement, ransomware, Russia

NYDFS Issues Guidance on Cybersecurity Controls to Combat Ransomware and Clarifies Reporting Obligations

July 3, 2021 By Lance Taubin, Kate Hanniford, Kim Peretti and Amy Mushahwar

The New York Department of Financial Services (NYDFS) issued new guidance this week intended to assist organizations in thwarting ransomware attacks. The guidance clarifies the NYDFS’ expectation that NYDFS-regulated companies should “implement these controls whenever possible” and report any successful deployment of ransomware or unauthorized access to privilege accounts to the NYDFS under its established […]

Filed Under: Cybersecurity, NYDFS Tagged With: ransomware

State Legislatures Consider Bans on Ransomware Payments

June 18, 2021 By Privacy, Cyber & Data Strategy Team

As ransomware attacks continue to dominate the news cycle, legislation has recently been introduced in several states that would place limits on certain entities’ ability to pay a ransom payment in the event of a ransomware attack. Although the proposed limits would generally apply to state agencies and other local governmental authorities, certain state proposals […]

Filed Under: Cybercrime, Digital Crimes, Legislation Tagged With: ransomware

DOJ Seizure of Ransom Payment Signals More Aggressive Stance by U.S. Government

June 10, 2021 By Kate Hanniford

Following the creation of the DOJ’s Ransomware and Digital Extortion Task Force in April 2021 and on the heels of the Biden administration’s characterization of ransomware as a national security threat, on June 7, 2021, the DOJ announced it has seized $2.3 million (63.7 bitcoin) in proceeds from a recent ransom paid to DarkSide in […]

Filed Under: Cybersecurity, National Security Tagged With: ransomware

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

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