News & Analysis as of

Cyber Attacks

Ashley Madison Settles Data Breach Case for $11.2M

Ashley Madison, which suffered a data breach in 2015 involving the loss of 37 million users’ personal and financial information, has settled the suit for $11.2 million....more

Lessons From the CoinDash Initial Coin Offering Hack

On July 17, 2017, the CoinDash initial coin offering (ICO) was hacked within minutes of its launch, resulting in numerous potential purchasers sending their money to a fraudulent address. The hack has raised many questions...more

Municipalities Under Connecticut's New Cybersecurity Strategy

by Murtha Cullina on

On July 10, 2017, Governor Dannel Malloy, along with Chief Information Officer Mark Raymond and Chief Cybersecurity Risk Officer Arthur House, released Connecticut’s initial Cybersecurity Strategy. The goal of the...more

SEC Chairman Clayton Talks Cyber Threats And Responses

by King & Spalding on

On July 12, 2017, U.S. Securities and Exchange Commission Chairman Jay Clayton made his first public speech as head of the Commission, emphasizing the need for coordination between companies and regulators to thwart cyber...more

Cyber Threats Equal Serious Threats

by Burr & Forman on

Every where you look these days, there seems to be another report of a cyber attack--attacks which do not discriminate based on industry type, size of business, or impact. In other words, everyone is vulnerable. In fact, the...more

Hurricane Cyber? Insurers Confront Unpredictable Data Breach Costs

by Fox Rothschild LLP on

Venerable insurer Lloyd’s of London says a global cyber attack on a major provider of cloud services could carry costs of up to $53 billion, reports Data Breach Today. That’s a hefty price tag that explains the rising...more

VTech Escapes Class Action Case Over Breach of 11 Million Toy Users’ Information

In November 2015, VTech Electonics North America LLC (VTech) announced that an unauthorized party infiltrated its network and gained access to the personal information of 5 million adults and 6.5 million children through its...more

National Cyber Security Alert

by Clark Hill PLC on

The continuing increase of cyber-crime and the almost daily reports of hacking attacks against businesses, government agencies, and citizens highlight the persistence of this escalating national security and corporate threat....more

Hacker Steals Millions from Virtual Currency Exchange Bithumb

A cyber-attack against–Bithumb–one of South Korea’s largest cryptocurrency exchanges and one of the five largest in the world—has reaped access to the data of 30,000 users and drained their accounts in the process. Bithumb is...more

In Case You Missed It: Launch Links - July, 2017 #2

by WilmerHale on

Some interesting links we found across the web this week: Why It’s so Difficult to Disrupt - The growing expectations of venture capitalists may be pushing founders to focus solely on unsustainable growth, rather than...more

Ransomware is taking the world by storm; does insurance respond?

On June 27, 2017, the world had its second major ransomware attack in two months, and experts are predicting more to come. The first, named WannaCry, began May 12, and quickly spread to over 400,000 machines, the vast...more

Law Firms’ Data Duty: Protecting Client Information From Cybercriminals

by McGuireWoods LLP on

July 1, 2017 The impact from the recent Petya/NotPetya ransomware attack — or what was reported as a ransomware attack but now appears to be something even more damaging — continues to spread around the globe, with several...more

Class Action and Regulatory Settlements Reflect the Rising Cost of Data Breaches

by Carlton Fields on

As the number of data breaches continues to increase, so too do the costs. After a breach occurs, companies typically expend significant sums conducting investigations, notifying customers and regulators, and engaging in...more

Data Breach Disruptions: The Cost of Cybercrime in Canada

News about malicious cyber-attacks have been flooding media outlets in recent weeks as high-profile viruses (including WannaCry and Petya) continue to hit leading global and Canadian companies. What’s the cost here at home?...more

HIPAA in the Age of Ransomware

According to a recent US Government Interagency report, ransomware is the fastest growing malware threat, targeting users of all types, including health care facilities. This past spring, for example, the WannaCry ransomware...more

The Remedy for the New Cyber Threat Posing Major Coverage Problems: “Fake President” E-mails

by Nossaman LLP on

In the last few weeks, we have seen yet another widespread ransomware attack that hit nearly one hundred companies around the world. It reminded me of a recent request from a client, made just after news broke of the...more

Timely Reminder: Lawyers’ Ethical Obligations and Technology

by Morgan Lewis on

In June 2017, companies, government entities, and law firms faced a global ransomware attack from a type of malware where attackers lock certain data or components of a system and demand payment in exchange for returned...more

Five Takeaways from the OCR Reminder on HIPAA Obligations In Ransomware Incidents

by Poyner Spruill LLP on

Apparently prompted by the recent high-profile wave of ransomware attacks, the Department of Health and Human Services’ Office of Civil Rights (OCR) has reminded hospitals, healthcare systems, and other covered entities and...more

How Can Healthcare Organizations Prepare for the Next Cyberattack?

by Latham & Watkins LLP on

HHS OCR issues checklist, iterative guidance in wake of WannaCry and Petya attacks; Anthem breach settlement provides additional lessons. Key Points: ..Healthcare organizations are particularly vulnerable to ransomware...more

Law Firms Beware – Ransomware: 9 Tips To Avoid Cyber Attack

by Kramm Court Reporting on

Upon listening to a panel of cybersecurity experts, I came to the conclusion that law firms and court reporting firms are vulnerable to the most prevalent cyber attack, ransomware. Ransomware is defined as “a type of...more

Authorities Investigating Cyber Intrusion of Numerous U.S. Nuclear Power Plants

It’s scary to think about, but anything that is online is hackable. Including critical infrastructure like nuclear power plants. It has been reported that U.S. authorities are investigating a cyber intrusion that has hit...more

Cybersecurity – A Recent UK ICO Fine Provides 60,000 Reasons for Organisations to Review Data Security

by Ropes & Gray LLP on

On 27 June 2017, the Information Commissioner’s Office issued a £60,000 fine to a company hit by a cyberattack along with a warning to all SMEs to ensure that they are doing all they can to safeguard their customers’ personal...more

Office of the National Coordinator Issues Guidance After NotPetya Attack

Following the most recent ransomware attack, known as NotPetya, (among other nicknames), many health care entities were victims of the ransomware, which prompted the Office of the National Coordinator (ONC) to issue guidance...more

Changing Cybersecurity Threats in the Context of the Internet of Things: Don’t Blink or You’ll Miss It

by Hogan Lovells on

In this hoganlovells.com interview, Washington, D.C.-based Hogan Lovells senior associate Paul Otto talks about security issues created by the exponential growth of the Internet of Things (IoT). ...more

Princeton Community Hospital Replaces Computer Network After Petya Attack

Numerous hospitals were victims to last week’s (aka NotPetya) ransomware attack. But one hospital—Princeton Community Hospital in West Virginia–has admitted that it is going to replace its entire computer network after Petya...more

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Cybersecurity

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