Finance & Banking Privacy

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Eddie Bauer Latest Victim of Point-of-Sale Compromise

Eddie Bauer announced on August 18th that it is the latest retailer who has become a victim of a “sophisticated” cyber intrusion that has compromised all of the cash registers in the 350 Eddie Bauer stores throughout the U.S....more

Also In the News - Data, Privacy, & Security Practice Report - August 2016

FDIC Office Of Inspector General Reports On FDIC’s Cybersecurity Practices – On August 11, 2016, the Federal Deposit Insurance Corporation’s (“FDIC’s”) Office of Inspector General issued a report based on an audit of the...more

NAIC Cybersecurity Task Force Weighs Credit Freezes

On May 24-25, the NAIC Cybersecurity (EX) Task Force held an interim meeting to hear comments from various industry trade organizations and other interested parties on the proposed Insurance Data Security Model Law exposed...more

AGG Litigation Insights Newsletter - Summer 2016

Even for companies accustomed to civil lawsuits, when the government is on the other side of the “v,” the prospect of litigation can be intimidating and unfamiliar. In this issue of the Litigation Newsletter, we explore how...more

California Court Strikes Fail-Safe TCPA Class Definition

Dixon v. Monterey Fin. Services, Inc., No. 15-cv-03298 (N.D. Cal. Aug. 22, 2016) - At issue before the Court was Plaintiff’s Amended Complaint, and Defendant’s second motion to strike class definition as a fail-safe...more

Heal Thyself: Insider Threats to Heed, Especially for Industries with Large Amounts of Personal Information

A recent study by the Ponemon Institute found that insider threats due to malicious or negligent employees are the leading cause of private-sector cybersecurity incidents. Of the over 600 information security professionals...more

European Banking Authority Consults on Draft Standards for Payment Service Providers

The European Banking Authority published a consultation paper on draft Regulatory Technical Standards specifying the requirements of strong customer authentication and secure communication under the revised Payment Services...more

FFIEC Provides Banks with Guidance Following the SWIFT Hacks

On June 7, 2016, the Federal Financial Institutions Examination Council (FFIEC) reminded banks of the cyber risks associated with interbank messaging and wholesale payment networks. FFIEC made its announcement after hackers...more

FCC and Federal Debt Collectors, More Restrictions under TCPA

In July we wrote about the exemption for robocalls made by the federal government (or its contractors) from the restrictions of the Telephone Consumer Protection Act (TCPA). Now, the Federal Communications Commission (FCC)...more

A New Solution to an Old Problem

Citizens in many countries the world over are plagued by an inability to record their land interests in a reliable and secure registry. Inefficiency, corruption and nepotism are rife, leaving countless people at risk of...more

Dude, Where’s My Bitcoin?

Somewhere in a lavish Mediterranean villa a drug lord wearing an off-white suit had a heart attack. Elsewhere a tech whiz in Silicon Valley refreshed his browser multiple times as his heart sank further with each reloaded...more

TCPA Connect - August 2016

FCC Issues Report and Order on Budget Act Exemptions - On August 11, 2016, the Federal Communications Commission issued a Report and Order implementing Section 301 of the Bipartisan Budget Act of 2015, which amended the...more

The FCC’s 2016 BBA Implementing Ruling Digested (Volume I): The 10 Things You NEED to Know Before Making Calls to Collect on...

On August 11, 2016 the FCC issued its long-awaited ruling implementing the 2016 Bi-Partison Balanced Budget Act (“BBA”) Amendment that carved out collection calls on government-backed debt from TCPA coverage. In re Rules &...more

In Case You Missed It: Launch Links - August, 2016

Some interesting links we found across the web this week: - Department of Commerce Now Accepting Privacy Shield - Self-Certifications: A Primer for Compliance and Self-Certification We’ve mentioned many times...more

Best Practices to Thwart Hackers Using Email to Get Your Money

Not a week goes by without some news report of another hacking incident. The industries targeted include large retail stores, restaurants, banks, attorneys, accountants and recently in Maryland, a title company. In...more

Researchers say Chip-based Credit Cards aren’t as Secure as we Thought

Payment technology company, NCR Corporation (NCR), determined last week that the new chip-based credit card technology isn’t as secure as we thought. The technology behind these chip cards that is supposed to make them more...more

Your daily dose of financial news - The Brief – 8.15.16

More details have emerged from the February cyberheist that resulted in the theft of more than $81 million from Bangladesh’s account at the NY Fed, including a pretty significant lack of critical concern from the bank itself....more

Oracle’s MICROS Point of Sale Division Hacked

KrebsonSecurity has reported that the Russian organized cybercrime group dubbed the Carbanak Gang, which in the past has been suspected of stealing more than $1 billion from banks, retailers and hotels and restaurants...more

Bitcoin theft highlights cryptocurrency regulatory uncertainty

The recent suspension of trading on Hong Kong based Bitcoin exchange Bitfinex following the apparent theft of approximately US$60m worth of bitcoins is the latest in a series of Bitcoin thefts. With Bitcoin still in its...more

Singapore’s enforcement of data protection law on the rise

Singapore's Personal Data Protection Commission (PDPC) is stepping up its efforts to enforce the Personal Data Protection Act 2012 (PDPA). Following the release of its first nine enforcement decisions in April this year, the...more

New EU Directive on Security of Information Systems 

A new Directive on cyber security was published in the Official Journal of the European Union. The Directive aims to achieve a common level of security of network and information systems within the EU. It requires all Member...more

UK Financial Conduct Authority—Regulated Firms Can Go to the Cloud

July 7, 2016, saw the UK’s Financial Conduct Authority (FCA) publish fresh guidance in order to clarify the requirements which apply to the financial services firms it regulates when outsourcing to the cloud. When the FCA...more

How Data Scientists & Compliance Can Work Together Better; Keith Furst Explains [PODCAST]

Data scientist Keith Furst and Masters of Disaster® podcast host Leona Lewis discuss how data scientists and compliance can collaborate better to get compliance the data it needs. It is almost impossible to have one...more

Banner Health Begins to Notify 3.7 Million Patients This Week of Data Breach From Cyberattack

Phoenix, Arizona, based Banner Health (Banner), reportedly one of the largest health care organizations in the country, began notifying up to 3.7 million patients this week of a data breach of its computer systems that...more

California Federal Judge Certifies Class in S2Verify FCRA Class Action Using Spokeo Concreteness Test

Last week, the decision in the Spokeo case influenced a California court’s decision to certify a class in a Fair Credit Reporting Act (FCRA) case. The class of applicants who claim that S2Verify, a background check company,...more

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