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New Treasury Sanctions a “Final Warning for companies to get security operations in order”

September 2021 by Jake Williams, BreachQuest CTO and Co-Founder states

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a crackdown on the use of digital currencies in ransomware attacks and other financial crimes, including its first-ever sanctions against a crypto exchange. In response to the advisory, BreachQuest reinforced its support for the enterprise as companies learn how to navigate these crimes more successfully and in accordance with OFAC. Here is the team’s announcement, which went live this morning.

Jake Williams, BreachQuest CTO and Co-Founder states: “This advisory is really a final warning for companies to get their security operations in order. The vast majority of ransomware incidents we respond to were trivially preventable. The Federal Government sees companies facilitating ransomware payments as encouraging future ransomware attacks. With this new advisory, organizations may lose the ability to pay attackers to recover, making it even more critical that they do what they can now to ensure they don’t suffer a ransomware attack in the first place – and that’s where we come in.”

Through its elite team of cybersecurity veterans, BreachQuest supports clients so that they can navigate ransomware attacks, find successful resolutions and avoid potential exposure to regulatory fines by discovering and closing vulnerabilities that lead to future attacks.


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