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We know based on conversations with our community that ransomware attacks are increasing for a variety of reasons and that payments have been increasing accordingly. The FBI discourages organizations from paying ransomware and now the Department of Treasury has declared that paying ransoms is illegal and violates OFAC regulations. Seemingly this puts Boards—and the conversation in and around evaluating risk—in a very precarious situation. The consideration around this and the balance of fiduciary responsibility is different depending on the organization (a manufacturing company vs a hospital, for example) and what data is being held….but it still squarely could disrupt the natural flow of risk considerations for Boards.
Participants
Adam Hickey
Participant
Deputy Assistant Attorney General, National Security Division, U.S. Department of Justice
Analytics Intelligence & Response Analytics Intelligence & Response
governance risk & compliance risk management threat intelligence compliance management governance risk & compliance risk management threat intelligence compliance management
Topic
Analytics Intelligence & Response
Analytics Intelligence & Response
Subtopic
governance risk & compliance
risk management
threat intelligence
compliance management
governance risk & compliance
risk management
threat intelligence
compliance management
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