Russia’s attack on Ukraine has resulted in historic and escalating U.S. sanctions, impacting companies who do business with Russia or Russian-affiliates and creating risks even for companies who do not. Since 2020, the number and sophistication of ransomware attacks has spiked, largely perpetuated by organized criminal groups in Russia and Eastern Europe. In light of recent warnings by the White House for companies and critical infrastructure to be on alert for an onslaught of cyber-attacks, understanding the threat landscape and legal issues around making a ransom payment is more important than ever.
Greenberg Traurig Shareholders Kara Bombach, Kyle Freeny and Jena Valdetero who have been closely monitoring the conflict, provided an overview of the state of U.S. sanctions in the wake of the Russian invasion of Ukraine and discussed the intersection with cyber-attacks, including how companies can prepare now to respond quickly, effectively, and within the confines of the law, and how we might expect U.S. authorities to respond to this threat.
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Recording: Ransomware Attacks and Sanctions in the Time of War is available in Greenberg Traurig’s Client CLE Library. This free Library provides substantive legal knowledge, as well as CLE credit in several jurisdictions, for registered users via on-demand programs and professional development resources. CLE credit is pending accreditation in the following jurisdictions: AZ, CA, CO, CT, FL, GA, IL, NV, NJ, NY, PA, TX and VA.
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