Cyber Attacks

News & Analysis as of

FFIEC Warns of Cyber Attacks

The Federal Financial Institutions Examination Council (FFIEC) reiterated the importance of banks protecting themselves from cyber attacks in a newly issued statement, urging financial institutions to "actively manage the...more

International Maritime Bureau warns of cyber attacks

Following the issuance of Plymouth University Maritime Cyber Threats Research Group study on the risk of cyber threats, the International Maritime Bureau (IMB) recently issued a warning to shipping and maritime companies to...more

World Energy Council warns utility industry of advanced malware

The World Energy Council recently warned the utility industry that one of the top threats to the energy sector is advanced malware attacks. The warning noted that the utility sector is vulnerable because of the size of the...more

Senate Creates Cybersecurity Caucus

On June 14, 2016, Senators Mark Warner (D-VA) and Cory Gardner (R-CO) announced the creation of the Senate Cybersecurity Caucus to help coordinate cybersecurity efforts across Senate committees and keep lawmakers and staffers...more

First home cyber protection insurance offered by Hartford Steam Boiler

The Hartford Steam Boiler Inspection and Insurance Company has announced that it is offering “the first personal lines cyber insurance program for consumers, protecting against computer attacks, cyber extortion, online fraud...more

Russian Intelligence Breaches Democratic National Committee Servers

Last week saw the announcement of yet another high-profile network breach. On June 14, 2016, the press reported that hackers had penetrated the Democratic National Committee’s (“DNC”) network for nearly a year. Most notably,...more

Your Organization is Impacted by Ransomware - Now What?

Some forms of cyber extortion are automated and not targeted at any specific victim. For example, “ransomware” refers to a type of malware that prevents users from accessing their systems unless, and until, a ransom is paid....more

Data Breaches Response Costs Continue to Rise

SEC Chair Mary Jo White recently opined that cyber security is the biggest risk facing the United States financial system. Companies should take heed of that warning in light of the release of the 2016 Cost of Data Breach...more

8th Circuit: Financial Institution Bond Provides Coverage for Fraudulent Wire Transfers

With policyholders facing increased losses from hacking and business email compromise, insurers are fighting hard to escape their obligations under financial institution bonds, crime policies and cyber insurance policies. In...more

Ransomware Update: The FBI Weighs In

The FBI recently released an article discussing the spate of ransomware attacks on a variety of different entities, including hospitals. In the article, the FBI warned that ransomware attacks and the cybercriminals carrying...more

Health Care E-Note - June 2016

In an effort to review and examine compliance with the Health Insurance Portability and Accountability Act of 1996 and its implementing regulations ("HIPAA"), the Department of Health and Human Services Office for Civil...more

Raytheon/Ponemon survey confirms companies wait until an event to hire a data security vendor

The results of a Raytheon commissioned Ponemon study released on June 7, 2016 shows that at least two-thirds of businesses wait until they have experienced a cyber-attack or data breach to hire and retain security vendors to...more

Courts Continue to Grapple with Data Breach Claims

Our last few blogs have focused on litigation under the Video Privacy Protection Act, including the recent ruling from the 10th Circuit in Yershov v. Gannett Satellite Information Network, Inc., 2016 U.S. App. LEXIS 7791 (1st...more

Another popular car broken into by security researchers

We have kept abreast of the security vulnerabilities of cars that have been exposed by security researchers. This time, researchers are asking Mitsubishi to recall approximately 100,000 Outlander hybrid vehicles as they were...more

How to Respond to a Cyber Extortion Demand

Cyber extortion refers to a situation in which a third party threatens that if an organization does not pay money, or take a certain action, the third party will take an adverse action against the organization. Among other...more

Practice Spotlight: Best Practices for Responding to the Threat of Ransomware

Ransomware, a specialized form of malware used for extortion attempts, has been around the internet for more than a decade but now, because of a rash of recent attacks, has moved to the forefront as the most problematic cyber...more

Government report critiques the IRS’ handling of 2015 data breach

According to a government report publicly released last week, the IRS failed to adequately respond to a May 2015 cyber-attack on its “Get Transcript” application that potentially compromised at least 621,000 taxpayer...more

KitNipBox Sues Meowbox for Allegedly Hacking Website and Stealing Trade Secrets

Cat product service provider KitNipBox sued rival Meowbox in federal court in Washington alleging that Meowbox hacked into KitNipBox’s website to steal its trade secrets and confidential information and to disrupt its...more

Chiropractic Clinic Hit with Malware

Complete Chiropractic & Bodywork Therapies, located in Ann Arbor, Michigan, recently notified 4,082 patients that its server, which contained the electronic medical record and billing information of patients, was infected...more

2016: The Year of Cyber Insurance?

It has been said that there are two types of companies in the world – those that have been hacked, and those that do not yet know they have been hacked. While perhaps an overstatement, it seems that every day, another company...more

Arizona Court Rules That Chubb Cyber Policy Does Not Cover Credit Card Theft Losses

As cyber attacks increase at an unprecedented pace, more and more businesses are purchasing cyber insurance to protect against that risk. The insurance industry now faces an avalanche of claims, and those claims now are...more

US-CERT Warns of Old SAP Software Vulnerability

The U.S. Department of Homeland Security Computer Emergency Readiness Team (US-CERT) recently issued an alert to the public about a vulnerability in old software developed by SAP SE that cyberattackers are using to infiltrate...more

State Sponsored Attacks Increasing and Targeting Industrial Facilities

A representative of Honeywell Process Solutions (Honeywell), which provides cybersecurity services for over 400 industrial sites worldwide, recently commented publicly that Honeywell is seeing an increase in nation-state and...more

FBI Report: Ransomware and Phishing Scams Increasing

We can’t go a week without commenting on how rampant ransomware is in the industry. The FBI recently released a report confirming how devastating ransomware has become for U.S. businesses....more

Employee Error Accounts for Most Security Breaches

A recent study by a well-known information security company captures one of the most common information security fallacies: that information security is a technology problem. Most businesses view mitigating information...more

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