Daily Archive: October 3, 2020

Ransomware victims find themselves between a rock and a hard place

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In case there was any confusion, the U.S. wants to remind everyone that law is law.

No one is allowed to transact with sanctioned entities, the Treasury Department warned Thursday in an advisory. The Office of Foreign Assets Control, or OFAC, specifically called out victims of ransomware for possible sanctions violations, a first for the federal agency.

The bulletin “officially puts companies on notice,” said Dmitri Alperovitch, cofounder of the Silverado Policy Accelerator, a security-themed think tank. The former chief technology officer for CrowdStrike, a cybersecurity firm, described the action as “a significant shot across the bow to victims, incident response companies and payment facilitating companies,” alerting them their behavior could be criminal.

The Treasury’s insistence on following the letter of the law puts targets … Read More

Lufthansa’s Swiss unit plans 1,000 job cuts over two years through attrition By Reuters

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© Reuters. FILE PHOTO: Swiss International Air Lines CEO Kluehr stands in front of the airlines new Bombardier CS100 aircraftat Zurich airport

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VIENNA (Reuters) – Lufthansa (DE:) unit Swiss International Air Lines plans to cut roughly 1,000 jobs over the next two years through voluntary measures rather than layoffs, its outgoing Chief Executive Thomas Kluehr said in remarks published on Saturday.

The Swiss government has granted the airline more than 1 billion euros ($1.17 billion) in loan guarantees to help it cope with the collapse in air travel due to the pandemic. Like many of its peers it decided to shrink its staff and fleet.

“We are initially relying on three socially acceptable measures: a hiring freeze, part-time models with salary reductions, and early retirement,” Kluehr told newspaper Schweiz am Wochenende, adding that based on staff fluctuations in recent years it should be possible to cut 1,000 jobs

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