OFAC Issues Second Ransomware Advisory and Designates Virtual Currency Exchange for Sanctions

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On September 21, the Treasury’s Office of Foreign Assets Control released an updated advisory to “highlight the sanctions risks associated with ransomware payments”—almost one year after issuing the first such guidance—and simultaneously imposed sanctions on SUEX, a virtual currency exchange accused of facilitating illegal transactions related to ransomware attacks. These developments highlight OFAC’s continuing focus […]
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