On September 6, 2022, without notice or opportunity for public comment, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published a Rule – which took immediate effect – consolidating a seven-year patchwork of “Cyber-Related Sanctions Regulations.” The Rule did not revise any laws; it merely restated the U.S. government’s opposition to the provision of material support for malicious cyber-enabled activity originating outside the United States.
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The “September 6th Rule”: OFAC Consolidates Seven-Year Patchwork of Laws, Reissues Cyber-Related Sanctions Regulations Posted on: September 07, 2022 In: Data Privacy & Cybersecurity
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OFAC September 2021 Advisory: Illusory Solutions to Soften the Enforcement Threat? Posted on: September 22, 2021 In: Data Privacy & Cybersecurity
On September 21, 2021, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) released an updated advisory on potential sanctions risks for facilitating ransomware payments. The sanctions have been authorized by the International Emergency Economic Powers Act and the Trading with the Enemy Act with the purpose of disrupting funding for malicious cyber activities and limiting activities that may be adverse to U.S. national security and foreign policy objectives.
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