Victimized Twice? Firms Paying Cyber Ransom Could Face U.S. Penalties

Share!

Insurance Information Institute - Oct 20, 2020

Recent advisories from two U.S. Treasury agencies –  the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) – indicating that companies paying ransom or facilitating such payments to cyber extortionists could be subject to federal penalties are a remind...

Read Full Article

Recommended Articles

Cyber Threats, Changes in Climate, and Business Interruption are Insurance Buyers’ and Sellers’ Top Risk Concerns, Says New Munich Re/Triple-I Survey

Posted: Nov 19, 2024

MIAMI, Nov. 20, 2024 – Cyber incidents, changes in climate, and business interruption are the chief...

Read Article

Growing Vulnerability of Inland Areas to Flooding Yet Homeowners Don’t Have Flood Insurance Coverage or Believe It’s Necessary: Triple-I

Posted: Nov 12, 2024

For Immediate Release New York Press Office: Loretta Worters, 917-208-8842, [email protected] MALVE...

Read Article

Commercial Auto Insurance Declines in Underwriting Profitability; Increasing Economic and Social Inflation Continue to Influence Costs, Says Triple-I/CAS

Posted: Oct 23, 2024

For immediate release New York Press Office: Loretta Worters, 917-208-8842, [email protected] NE...

Read Article