Cyber Attacks

News & Analysis as of

Tips for Protecting Your Company Against Cyberattacks

Cybersecurity has become, as it should, an extremely important topic on company boards’ agendas. The main question on everyone’s mind is: “How can we eliminate this problem?” The answer, unfortunately, is that you can’t....more

Beware of version 4.0 of Cryptowall ransomware

Security experts are warning that a new version of the notorious and nasty ransomware Cryptowall, dubbed Cryptowall 4.0, has hit the scene. The difference with the new version is that it is able to encrypt specific file...more

Cybersecurity & Nonprofits: A Matter of Time?

The ever increasing cyber-attacks and data breaches targeting the private sector and government agencies, and the increased focus on cybersecurity plans and preparedness, may seem like remote risks for nonprofit...more

The Elephant in the Room – Catastrophic Property Damage from a Cyber Attack

This past October was the country’s first National Cyber Security Awareness Month, and that makes it an appropriate time to touch on a very troubling first-party exposure. Every day brings news of massive cyber attacks on...more

Cybersecurity and Data Privacy: Potential New Cybersecurity Regulations for Financial Institutions and Insurance Companies (11/15)

On the heels of recent high profile cyber-attacks against financial institutions and insurance companies, the New York State Department of Financial Services released a letter on November 9, 2015 that outlines proposed...more

Which Way is the “Wyndham” Blowing? Cyber Regulation After FTC vs. Wyndham

Does the Third Circuit’s recent decision in FTC v. Wyndham Worldwide Corp. usher in a new era of enforcement by the FTC and other federal agencies regarding cybersecurity practices? Regardless of the answer, it is important...more

Financial Institutions Council Publishes Statement On Hacker Extortion

Amid the recent increase in hacker extortion cases, the Federal Financial Institutions Examination Council (“FFIEC”) issued a statement on November 3 (the “Statement”) describing steps financial institutions should take to...more

FFIEC Warns of Increase in Cyber Attacks Involving Extortion, Encourages Financial Institutions to Develop Response Programs

Last week, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement warning of an “increasing frequency and severity of cyber attacks involving extortion.” The statement warned that criminals...more

FFIEC Issues Joint Statement Regarding Cyber Attacks Involving Extortion

On November 3, the FFIEC issued a statement notifying financial institutions of the increasing frequency and severity of cyber attacks involving extortion. The joint statement urges financial institutions to take steps to...more

Recent Amendments to Security Breach Notification Laws Further Complicate Breach Notification for Employers

It is not a matter of "if" but "when" an employer will be required to notify employees of a security breach.  Forty-seven states require employers to notify employees when defined categories of personal information, including...more

Senate Passes Legislation To Ease Sharing Of Cybersecurity Threat Information

On October 27, 2015, the Senate passed S. 754, the Cybersecurity Information Sharing Act of 2015 (“CISA”), which addresses how companies can share cyber threat information with the federal government. The legislation aims to...more

Report on Student Data Privacy Highlights Two Key Issues For School Leaders

Student data privacy is the “it” issue right now in edtech, as evidenced by a recent special Student Data Privacy Report (free registration required) issued by Education Week. Education Week prefaces the report with a fact...more

Uber class action case hits roadblock

A California federal judge has ruled that a former Uber driver who is suing Uber in a proposed class action case was unable to show that he suffers an immediate threat of identity theft and dismissed the driver’s first...more

U.S. Senate Moves Forward On Cybersecurity Information-Sharing Legislation

On October 27, 2015, the U.S. Senate passed the Cybersecurity Information Sharing Act of 2015 ("CISA") by a vote of 74-21. CISA had been stalled in the Senate since its submission in April 2015 by Senators Diane Feinstein...more

Senate passes Cybersecurity Information Sharing Act

After a long delay, with a vote of 74 to 21, the United States Senate passed the Cybersecurity Information Sharing Act (CISA) on October 27, 2015. The bill has been touted as being controversial and is opposed by...more

Board Participation in Cybersecurity: What More Needs to Be Done?

High-profile data breaches seem to hit the headlines almost every day. These breaches have proved terrifying for many companies, particularly as the attackers release embarrassing emails and other information. The frequency...more

Data-Harvesting Zombie Hackers, Blood-Thirsty Auditors, and Other Reasons to be Scared on Halloween

This Halloween, the scariest monsters might not be in your closet or under your bed. They may be overseas, orchestrating intrusions into your electronic medical record. Or they may be lurking in your own workforce, carrying...more

Hacker arrests and prosecutions update

We previously reported that alleged Ukranian hacker Sergey Vovnenko, also known as “Flycracker,” “Fly” and “Darklife” was extradited from Italy, arrested and charged in New Jersey federal court for his part in disbursing the...more

ISIS Cyber-attacks On U.S. Infrastructure

At GridSecCon last week, FBI cyber division chief John Riggi announced that the Islamic State of Iraq and Syria (“ISIS”) attempted to hack American power companies, but failed. Riggi acknowledges the growing concern of...more

Colleges and Universities Are Prime Cyberattack Targets: What’s Behind the Threat?

When it comes to cyberattack targets, many think of retailers and associated credit card transactions or customer information, or perhaps healthcare providers with their ever-increasing storage and transmission of electronic...more

[Webinar] The New Compliance Challenge: Protecting Confidential Assets From Cyber Threats and Malicious Insiders - Nov. 5th,...

The growing prevalence of cyber-security issues and insider breaches has put information security squarely on the agenda for many corporations – and increasingly in the realm of compliance. In this webinar, we discuss these...more

Plan Now to Use Off-Band Communications During an Incident Response: Key Points

Your company is in crisis mode in the throes of a security incident response (IR). But you are calmly executing your well-honed IR plan - a plan you developed and tested during mock exercises over the past year. You are...more

SIFMA Urges Senate to Pass Cyber Sharing Bill

It seems as if every day there is a new report of a data breach or cyber attack. For the same reason that Willie Sutton robbed banks — “because that’s where the money is” — cyber criminals have been incessant in their...more

Cybersecurity at Small and Midsize Businesses

Cyberattacks against the country’s largest companies tend to garner the most press coverage and generate the most cybersecurity anxiety. For example, such high profile companies as eBay, JP Morgan, Home Depot and Target are...more

Cyber-Risks 2015 – A Board Primer

Cyber-risk is a witch’s brew of reputational, operational, legal and financial dangers. This toxic combination exposes a financial institution to a potentially existential hazard when an intrusion occurs. The only way to...more

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