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On October 1, 2020, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to companies that pay a ransom in the wake of a cyberattack. Specifically, the advisory warned that ransomware attack victims and third-parties who assist these victims could be in violation of federal law if they pay or facilitate the payment of a ransom to a sanctioned individual or entity — intentionally or otherwise.
What is the national and business context? The U.K. has historically adopted a relatively liberal approach to foreign investment and remains one of the top recipients of foreign investment in the world. In contrast to its neighbours in Europe and the United States, the U.K. does not currently operate a separate framework for the review of foreign investment transactions that raise national security considerations.
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