Legal analysis after UK issues sanctions against ransomware groups

13/02/2023 | UK Government

A first wave in a coordinated action between the UK and US Governments has resulted in seven Russian cyber criminals from two ransomware groups having their assets frozen and travel bans imposed. Legal analysis by Mischon de Reya states that the new approach marks "a change in policy around sanctioning cyber actors which previously had only designated state actors." The article goes on to highlight the new sanctions "are yet another consideration for UK businesses who become victims of these ransomware groups. Alongside regulatory reporting concerns for the loss of personal data, the risk of breaking sanctions should be carefully considered to avoid fines and possible criminal legal actions." Meanwhile, Pinsent Masons write, "Businesses should not wait for a ransomware attack to impact their business before doing due diligence on the risks involved in making a ransom payment to cyber criminals."

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Ransomware

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