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Daily Dashboard | Treasury department sanctions cryptocurrency exchange over ransomware payments Related reading: Notes from the IAPP, Oct. 15, 2021

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The U.S. Department of the Treasury sanctioned Czech Republic-based cryptocurrency exchange Suex OTC, for allegedly enabling illegal ransomware payments, Reuters reports. The department alleges the company facilitated transactions related to at least eight ransomware attacks. Treasury Deputy Secretary Wally Adeyemo said the sanctions, which block Suex’s access to U.S. property and prohibit transactions with Americans, are “a signal of our intention to expose and disrupt the illicit infrastructure using these attacks.” Editor’s note: IAPP Research Director Caitlin Fennessy, CIPP/US, detailed ransomware risk mitigation and compliance.
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