Hughes Hubbard Explains the Hidden Risks of Ransomware Payments

July 12, 2021 - In the wake of recent high-profile ransomware attacks involving SolarWinds, Colonial Pipeline, and the ongoing Kaseya attack, cybercriminals have become bolder, more aggressive, and altogether more dangerous to the global economy. While paying ransom to recover data may alleviate the immediate threat, doing so can create more risk in the long term for victims of these attacks. 

In “Ransomware Attacks and Responses,” Hughes Hubbard attorneys Ryan Fayhee and Tyler Grove outline the sanctions enforcement risks and legal repercussions that are often associated with payment of ransomware demands, if not carefully managed. The article was recently published as a chapter in Global Investigation Review’s Guide to Cyber Investigations (Second Edition). 

We are also pleased to share that the 2021 edition of The Legal 500 recognizes our Sanctions, Export Controls and Anti-Money Laundering Group as a leading firm in the International Trade category. The guide calls out our team’s “great ability to provide compliance advice to large companies.” Practice head and Partner Ryan Fayhee is lauded for “his longstanding experience, including knowledge gained in his previous position at the DOJ, to handle complex sanctions issues.” Partner Roy Liu is recognized as a “go-to advisor” for his expertise and work with numerous companies doing business in China. Associate Tyler Grove is also newly listed as a recognized lawyer in the space.
 
If you would like to learn more about Hughes Hubbard’s Sanctions, Export Controls and Anti-Money Laundering practice or discuss how our attorneys can assist your organization, please contact any member of the practice group.