As reported by Reuters, cyber insurers and other financial institutions that facilitate payments to hackers to end cyberattacks risk running afoul of sanctions rules, the U.S. Treasury Department warned on Thursday.
The warnings, which referenced malicious programs known as ransomware, came in advisories from Treasury’s Office of Foreign Assets Control (OFAC)and Financial Crimes Enforcement Network (FinCEN).
Experts Comments
What do you think of the topic? Do you agree with expert(s) or share your expert opinion below.
Be part of our growing Information Security Expert Community (1000+), please register here.
Be part of our growing Information Security Expert Community (1000+), please register here.
Linkedin Message
@Jake Moore, Cybersecurity Specialist, provides expert commentary at @Information Security Buzz.
"Insurance works well for a car or a home, but that’s because they are replaceable with no knock-on effect. ..."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/u-s-treasury-warns-cyber-insurers-payments-to-hackers-may-violate-sanctions
Facebook Message
@Jake Moore, Cybersecurity Specialist, provides expert commentary at @Information Security Buzz.
"Insurance works well for a car or a home, but that’s because they are replaceable with no knock-on effect. ..."
#infosec #cybersecurity #isdots
https://informationsecuritybuzz.com/expert-comments/u-s-treasury-warns-cyber-insurers-payments-to-hackers-may-violate-sanctions