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ARTICLE · 12 DECEMBER 2023

To pay or not to pay? Ransomware and sanctions risk

Piper Alderman
Piper Alderman
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Discusses the nature of ransomware and the easily overlooked sanctions risks associated with ransomware payments.

AustraliaTechnology
Michael Bacina
Michael Bacina
Steven Pettigrove
Steven Pettigrove
Jake Huang
Jake Huang
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Michael Bacina, Steven Pettigrove and Jake Huang of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.

Ransomware attacks – victims of which are extorted to pay a ransom – have become increasingly prevalent and sophisticated in recent years. When a ransomware victim is confronted with the hard question of "to pay or not to pay" hackers, there are a number of legal, ethical and practical matters to consider, and the risks of breaching sanctions laws may not immediately be front in mind. In this article, we will discuss the nature of ransomware and the easily overlooked sanctions risks associated with ransomware payments.

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