STA Law Firm has a team of settlement experts to represent secured creditors, debtors, trustees, equity holders and suppliers....
Read more informationCorporate Law Firm in UAE-& across MENA. Corporate Lawyers in Dubai...
Read more informationSTA Law firm has a dedicated team of franchise lawyers who advises and counsels the franchise arrangements, structuring franchise programs, franchise network and distribution. ...
Read more informationSTA - Expert Team of Commercial & Contracts Lawyers in Dubai & UAE...
Read more informationSTA Law Firm is one of the leading law firm in Banking and Finance, Capital Markets, DIFC, Compliance and Regulatory practices. ...
Read more informationContact our expert team of property lawyers in Dubai & across UAE....
Read more informationSTA Law Firm's team of employment lawyers in Dubai, Abu Dhabi and across UAE advise universities, engineering & shipping firms, banks, & other industries...
Read more informationIntellectual Property Law Firm. Patent, Trademark Registration UAE...
Read more informationTechnology & Media Law Firm in Dubai - Expert Lawyers...
Read more informationSTA has a dedicated team of fraud & criminal lawyers in Dubai & UAE...
Read more informationShipping Law Firm in Dubai | Offices - Middle East, Asia & Europe....
Read more informationMergers and Acquisitions Law Firm in Dubai and United Arab Emirates...
Read more informationIn today’s competitive business environment the mining industry is becoming a very attractive option for foreign investors. New projects are being launched, but we can appreciate that foreign investors will find the mining industry......
Read more informationSTA lawyers recognize that the healthcare industry comprises of a variety of individuals, professions, teams and organisations that may need our legal services. We have considerable knowledge and experience......
Read more informationClients rely on and trust STA's banking lawyers to take a timely, practical and individually tailored approach to meet specific requirements of our clients. ...
Read more informationInsurance Practice at STA - Expert Insurance Lawyers in Dubai & UAE...
Read more informationSTA is a leading technology and media law firm in Dubai & across UAE...
Read more informationHospitality Lawyers in UAE - Expert Advice to Hospitality Industry...
Read more informationSTA’s seasoned team of property lawyers in Dubai, Abu Dhabi and across the UAE have thorough and extensive knowledge and experience in dealing with construction and real estate law matters. Learn more about our expertise and our team of property lawyers...
Read more informationSTA's lawyers in UAE specialize in all areas of contentious as well as non-contentious discipline in oil and gas industry and advice on both upstream and downstream work. Consult one of our Senior Energy Lawyers in Dubai or other offices today!...
Read more informationCombining variety of practice disciplines to provide extensive advice and counsel to clients, STA’s FMCG practice represents companies in a broad range of industries including large scale franchisors, Fortune 250, and multinationals ...
Read more informationShipping and Maritime Law Firm - UAE, Middle East, Asia and Europe. Expert advice on ship building, ship fiance, sale and purchase, compliance, due diligence and more. Our lawyers advice on all types of vessel including bulk carriers, tankers, cruise ships, offshore rigs and support vessels....
Read more informationSTA's Team of Lawyers in Abu Dhabi, Bahrain, Doha, UAE, Luxembourg, Moscow, RAK, Sharjah, and Singapore. Find a Lawyer. ..
Read more informationThe US Treasury Has Sanctioned a Cryptocurrency Exchange for Allegedly Aiding in The Spread of Malware
SUEX OTC, S.R.I., a virtual currency exchange, was sanctioned by the US Department of Treasury's Office of Foreign Assets Control on Tuesday for allegedly enabling transactions containing illicit proceeds from ransomware attacks. In addition, the department revised its advice on the Risks of Sanctions for Facilitating Ransomware Payments.
A study of SUEX's known transactions, according to the government, indicated that over 40% of them were related to illicit activities. Furthermore, while most virtual currency activity is legal, certain transactions are exposed to criminal actors, according to the agency.
However, organizations like SUEX facilitate unlawful operations for their own nefarious gain. SUEX's property in the United States will be blocked as a result of the penalties. Furthermore, US citizens will be prohibited from dealing with SUEX because of the penalties.
The government strongly advises paying cyber ransom or agreeing to any extortion requests, according to the revised advice. The government also understands the importance of cybersecurity in preventing or reducing ransomware attacks, according to the report. In the case of a ransomware attack, the advice emphasized the need of improving cybersecurity processes as well as reporting to and cooperating with appropriate government authorities.
Finally, according to Treasury Secretary Janet Yellen, ransomware and cyber-attacks constitute a direct danger to our economy, affecting both large and small businesses across the United States.