Crypto Exchanged Sanctioned for catering to Ransomware Criminals
SiteFocus - Creative solutions start with ELAINE
From our analysis, we found the following most relevant:
The Treasury Department also issued fresh warnings to the private sector that businesses risk penalties and fines for paying ransoms or handling such transactions, especially if they fail to report those activities to authorities.
The Treasury Departments actions are the latest effort to curtail ransomware attacks, which are estimated to plunder hundreds of millions of dollars annually from American businesses.
The actions on Tuesday are the latest effort by the Biden administration to curtail the growing problem of ransomware attacks, which are estimated to plunder hundreds of millions of dollars annually from American businesses and in recent months have hobbled critical US infrastructure.
Those numbers only represent a fraction of total losses, Ms. Neuberger said, because many businesses choose not to report when they have been hit by ransomware. .