Ransomware - Additional Risks for Banks
December 15, 2020
Banks are exposed to ransomware risks that extend beyond cyber-attacks on their own systems. Banks participating in ransomware payments by victims may expose the bank to penalties for violations of Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) regulations. On October 1, 2020, the United States Treasury, through FinCEN and OFAC, issued advisories related…
