OFAC Warns Americans Against Facilitating Ransomware Payments
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....
Related News
If you assist a ransomware victim in paying out to cyber attackers, you could end up facing civil penalties, OFAC says.
The Treasury’s Office of Foreign Asset Control (OFAC) has published a specially designated nationals list update (OFAC’s SDN List) that lists a number of individuals accused of being involved with Iran-related ransomware. The list further shows seven bitcoin addresses that are allegedly associated with the Iranian ransomware gang. Iran Adds 7 New Bitcoin Addresses to the SDN List Following the Tornado Cash Ban Following the Treasury’s Office watchdog OFAC banning the ethereum mixer Tornado Cash, OFAC published a new SDN List update on September 14, 2022. The SDN List....
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....
“This will not be the last time — the U.S. government will continue to aggressively pursue the entire ransomware ecosystem and increase our nation's resilience to cyber threats," said Attorney General Merrick Garland. The United States Department of the Treasury has announced it will impose sanctions on the cryptocurrency exchange Chatex and its support network for allegedly facilitating transactions for ransomware actors.In an advisory update issued on Nov. 8, the Treasury Department Office of Foreign Assets Control, or OFAC, added Chatex as well as IZIBITS OU, Chatextech SIA, and....
The U.S. Treasury Department has sanctioned a second cryptocurrency exchange “for facilitating financial transactions for ransomware actors.” Two ransomware operators have also been sanctioned and $6.1 million in funds were seized. US Treasury Sanctions Another Cryptocurrency Exchange The U.S. Department of the Treasury announced Monday that its Office of Foreign Assets Control (OFAC) has sanctioned ransomware operators and a cryptocurrency exchange. Crypto exchange Chatex and its associated support network have been sanctioned “for facilitating financial transactions....