Clifford Chance

Treasury Ransomware Advisories Warn Companies to Consider Collateral Legal Risks in Payments

October 2, 2020

On October 1, 2020, the US Department of Treasury issued a pair of advisories aimed at financial institutions and other corporates who may find themselves in the unfortunate position of being extorted to make payments to bad actors, or to process such payments, in connection with ransomware attacks. Both advisories remind companies in their crisis management considerations to consider the related money-laundering and sanctions risks. Companies should include these considerations in their ransomware playbook.

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