Part B News: Richard Sheinis on Potential Health Care Provider OFAC Sanctions

In an article published by Part B News on November 1, 2021, Hall Booth Smith Charlotte-based Partner Richard Sheinis discusses the potential sanctions health care providers can incur by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) if they pay a sanctioned international criminal actor as part of a ransomware attack.

Richard told the publication in an interview what steps providers can take to protect themselves: “We get the team of vendors that we work with – including forensic IT teams and vendors that specialize in communications and negotiations with the threat actor – to provide the client and myself a letter stating that they have checked the OFAC search list and we’re good to go.” He also noted that such measures are done in good faith to show federal investigators that providers have taken steps to follow the law.

Subscribers to Part B News may read the complete article here.