US Treasury warns crypto firms not to reimburse unknown ransomware victims
Malware payouts from insurance companies pose a threat to U.S. national security. Two offices of the U.S. Department of the Treasury have issued advisories on ransomware payouts, which they say pose a threat to national security. The Financial Crimes Enforcement Network or FinCen reminded cryptocurrency processing companies of their duty to file suspicious activity reports when they have a reason to suspect that their services are being engaged for such payouts to sanctioned individuals:“Among these entities are digital forensics and incident response (DFIR) companies and cyber insurance....
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The U.S. Federal Bureau of Investigation (FBI) has released an alert that warns private industry in the country about incidents of harassment of victims made by ransomware gangs, such as the well-known Doppelpaymer group. FBI Is Aware of Cold-Calling Tactics by Ransomware Gangs According to a PIN (private industry notification) alert regularly sent to U.S. companies to inform them about the latest updates in the cybersecurity sphere, shared by Zdnet, the FBI has been aware of incidents since February 2020, where Doppelpaymer has cold-called companies to intimidate victims by demanding them....
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing Schemes Targeting Covid-19 Vaccine Research Institutions According to the alert, FinCEN says that fraud, ransomware attacks, and “similar types of criminal activity” target the distribution of Covid-19 vaccines, which could affect their supply chains if proper actions are not taken on....
If you assist a ransomware victim in paying out to cyber attackers, you could end up facing civil penalties, OFAC says.
A UK cybersecurity watchdog has issued a warning about new bitcoin ransomware attacks disguised as messages from several government agencies. According to the National Fraud Intelligence Bureau (NFIB), unknown parties have been reported spoofing emails from the UK Home Office and Ministry of Justice, as well as from domestic energy giant British Gas. The emails are being used to distribute TorrentLocker, one of a number of malware variants that, when activated, lock up a user's files unless a ransom in bitcoin is paid. A report last year found that the vast majority of TorrentLocker....
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory highlighting the sanctions risk American citizens face if they help facilitate ransomware payments. In the advisory, the OFAC says it will “continue to impose sanctions on those who materially assist, sponsor, or provide financial, material, or technological support for these activities.” In the document, the OFAC argues that acceding to ransomware demands–which are normally settled using cryptocurrencies–not only emboldens cybercriminals but also....