The U.S Treasury Department’s Office of Foreign Assets Control (OFAC) is taking action against a ransomware group targeting individuals and companies in the United States by adding associated persons and their properties to the Specially Designated Nationals and Blocked Persons List (SDN).
In a statement, the Treasury Department says that it is sanctioning the ransomware group affiliated with Iran’s Islamic Revolutionary Guard Corps (IRGC) as part of a collaborative effort with other government departments and agencies to protect Americans from cybercrimes.
The prohibition takes effect as ransomware payments in the United States hit $590 million in 2021, up by over 41% from $416 million in 2020.
The department says that the group exploits software vulnerabilities to execute ransomware attacks. It is also engaged in other