Attorney General Merrick B. Garland, Deputy Attorney General Lisa O. Monaco and FBI Director Christopher Wray Deliver Remarks on Sodinokibi/REvil Ransomware Arrest
A core priority of the Justice Department is to keep our country safe from all threats, foreign and domestic. In ransomware attacks, transnational cybercriminals use malicious software to hold digital systems hostage and demand a ransom. Six weeks later, on August 11, the Justice Department indicted Yaroslav Vasinskyi – also known by the online moniker, Rabotnik. Over the past seven months, the Justice Department has sharpened the tools at our disposal to investigate and prosecute ransomware attacks. Almost immediately after they were hit, Kaseya provided the FBI information they needed to act—and to act fast.justice.gov
Treasury says it needs to modernize its economic sanctions
The Treasury Department says that the economic and financial sanctions the United States has employed over the past two decades to battle global terrorism, nuclear proliferation, drug cartels and other threats need to adapt to a rapidly changing financial world.
White House blacklists Russian ransomware payment 'enabler'
The goal of the action is to go after the “financial enablers” of ransomware gangs, Deputy Treasury Secretary Wally Adeyemo told reporters in previewing the announcement. The goal is to go after the “financial enablers” of ransomware gangs, Deputy Treasury Secretary Wally Adeyemo told reporters. Such operations process a disproportionate amount of illicit transactions, Adeyemo said. In the case of SUEX, officials said, more than 40% of its known transactions have been associated with illicit actors. Most ransomware gangs operate out of reach of Western law enforcement in Russia and allied states.wftv.com
Biden administration targets ransomware payment 'enablers'
WASHINGTON — (AP) — The Biden administration took aim Tuesday at the financial marketplace for criminal ransomware gangs, announcing sanctions against a Russia-based virtual currency brokerage that officials say has processed illicit transactions for attackers. The goal of the action is to go after the “financial enablers” of ransomware gangs, Deputy Treasury Secretary Wally Adeyemo told reporters in previewing the announcement. The administration selected for sanctions a currency exchange known as SUEX OTC, a broker it said has facilitated transactions for at least eight ransomware variants. Though the majority of virtual currency exchanges are engaged in legal commerce, a subset of so-called “nested” exchanges processes a disproportionate amount of illicit transactions, Adeyemo said. In addition, the Treasury Department says it is updating guidance for ransomware victims that it first issued last year.wftv.com
Deputy treasury secretary nominee to focus on national security in confirmation hearing
Wally Adeyemo, President Joe Biden's nominee for deputy treasury secretary, is expected to focus on national security, including taking on China for unfair practices, during his Senate confirmation hearing. He also plans to draw on his experience having served as deputy national security adviser under former President Obama. "If confirmed, I have been asked by [Treasury] Secretary Yellen to work on a number of Treasury's national security priorities," Adeyemo is expected to say. Prior to being nominated to serve as deputy treasury secretary, Adeyemo also served as deputy director of the National Economic Council. If confirmed, Adeyemo would become the first African American to serve as deputy treasury secretary.cbsnews.com
Watch live: Biden and Harris introduce key economic team members
President-elect Joe Biden and Vice President-elect Kamala Harris are set to introduce key members of their economic team Tuesday afternoon in Wilmington, Delaware. The Biden transition team announced picks for top economic posts on Monday. He previously served as chief of staff at the Consumer Financial Protection Bureau, deputy director of the National Economic Council and deputy national security advisor. The transition team has selected Princeton dean Cecilia Rouse, one of the nation's top labor economists, as chair of the Council of Economic Advisers. The transition team has not announced a selection for director of the National Economic Council, a role that is often considered the president's top economic advisor.cnbc.com
Biden announces economic team, confirms Janet Yellen as Treasury nominee
President-elect Joe Biden and his transition team announced on Monday several nominees and appointments for the incoming administration's top economic posts. The transition team confirmed CNBC's earlier report that former Federal Reserve Chair Janet Yellen would be Biden's official nominee for Treasury secretary. "As Treasury Secretary, I will work every day towards rebuilding that dream for all." Macroeconomic and national security advisor Wally Adeyemo was nominated to serve as deputy secretary of the Treasury. If confirmed, Adeyemo would be the first African American deputy secretary of the Treasury.cnbc.com
President-elect Joe Biden announces senior economic team
With unemployment still high and the pandemic threatening yet another economic slump, President-elect Joe Biden is assembling a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality. Biden also named Cecilia Rouse as chair of his Council of Economic Advisers, and Heather Boushey and Jared Bernstein as members of the council. Biden also selected Wally Adeyemo to be Yellen’s deputy, which would make him the first Black deputy treasury secretary. She first made her mark in the Clinton orbit, and served as policy director for Hillary Clinton’s 2008 presidential race. Bernstein has also worked as a social worker and was an economist at the Economic Policy Institute, a labor-supported think tank.