News & Analysis as of

Cyber Attacks

Guilt by Association: Bitcoin and the WannaCry Ransomware Attack

by Perkins Coie on

The recent so-called “WannaCry” ransomware cyber-extortion attack has thrust bitcoin as a means of payment back into the debate surrounding illegal online activity. Much in the way that the internet, in its early days, was...more

SEC Urges Investment Firms to Better Prepare for Ransomware Attacks

by Nossaman LLP on

On May 17, 2017, the SEC’s Office of Compliance Inspection and Examination (“OCIE”) issued a risk alert urging broker-dealers, investment advisors and investment companies to safeguard themselves against ransomware in light...more

The EC New Alert Mechanism to Detect Cartels: A Teaser Before a European General Framework for Whistleblowing

Whistleblowing has been part of the U.S. legal tradition, if not since the resolution passed by the Continental Congress in 1778, at least since the adoption of the 1863 False Claims Act. With regard to the disclosure of...more

WannaCry Global Ransomware Attack: What You Need to Know

by Shearman & Sterling LLP on

The WannaCry ransomware attack was first reported on Friday, May 12. Within hours, it shut down thousands of computer systems, locking users out of their own files. The latest report estimates over 300,000 computers in 150...more

Rite Aid’s Online Store Breached

Rite Aid has admitted that its online eCommerce platform was accessed by unauthorized individual(s) from January 30, 2017, through April 11, 2017, and their customers’ names, addresses and payment card information, including...more

The State AG Report Weekly Update

by Cozen O'Connor on

2018 Election Update- Michael Dougherty Announces Bid for Colorado Attorney General- Michael Dougherty formally announced his candidacy to become Colorado AG. Dougherty is the third Democrat to formally enter the...more

Ransomware Attack Hits Dallas Senior Living Community

No industry is immune from ransomware attacks—including senior living communities. Senior living communities have exploded now that baby boomers are selling homes, down-sizing and getting ready for that stage of life....more

Financial Services Weekly News - May 2017 #4

by Goodwin on

Editor's Note - Memorial Day. On Memorial Day, we will be celebrating the men and women whose service and sacrifice ensures the preservation of freedom and opportunity across the United States. Rather than summarize the...more

Actions You Can Take to Protect Your Systems and Data from a Cyber Attack

by Miles & Stockbridge P.C. on

As a follow up to our cyber security alert from last week, preparing to protect against an event like the recent “WannaCry” global ransomware attack can include a range of IT, business operations and legal steps....more

Cybersecurity Lessons from the United States: A Guide for Directors and Officers

by Bennett Jones LLP on

The recent global ransomware attack (WannaCry) was yet another reminder of the increased threat posed by cyber breaches. While cybersecurity attacks are inevitable, organizations (and their directors and officers) may still...more

Do Recent Events Make You “Wanna Cry”? - Massive ransomware attacks are just another reason to have robust cyber insurance in...

On May 12, a massive ransomware cyber-attack infected over 100,000 computers in more than 150 countries. This malware, a Trojan virus known as “WannaCry,” “WanaCryptor,” or “Wcry,” encrypts files, and then threatens to...more

WannaCry Also Encrypted Hospital Medical Devices

The fall-out from WannaCry continues, particularly in the healthcare sector. There are new reports that WannaCry affected at least two hospital systems in the U.S. and encrypted medical devices (power injector systems)...more

Employers: Are You Ready for a Cyberwar? Attackers Using Ransomware are Saying Show Me Your Bitcoin!

by Dechert LLP on

Recently, the WannaCry ransomware attack impacted 150 countries and over 300,000 computers. Not all ransomware attacks are so massive but they all are fast moving and require swift action to prevent destruction and lose of...more

HHS Office of the Assistant Secretary for Preparedness and Response Issues Series of Cybersecurity Updates in Response to WannaCry...

In response to the WannaCry ransomware attack that infiltrated the computer systems of health care systems and other entities worldwide on or around May 12, 2017, HHS’ Office of the Assistant Secretary for Preparedness and...more

WannaCry Ransomware Cyberattack Raises Legal Issues

by Morgan Lewis on

The recent cyberattack highlights the need for firms to engage in proactive prevention and protection. Ransomware (malware that encrypts data pending an extortion payment) is a recurring cyber threat that is growing more...more

Did WannaCry make you want to cry? Real risks for landlords and tenants

by Hogan Lovells on

As the extent of the damage caused by the recent WannaCry ransomware virus becomes clearer, businesses across the world have been reminded of the critical importance of cyber security measures, and the potential fall-out...more

Weapons in the Cyber Defense Arsenal

by Wilson Elser on

In May 2017, the world experienced an unprecedented global cyberattack that targeted the public and private sectors, including an auto factory in France, dozens of hospitals and health care facilities in the United Kingdom,...more

New FCA Web Page on Cyber Resilience

On May 18, 2017, the FCA published a new Web page on cyber resilience. The FCA notes that cyber risks pose a threat to all financial services firms. Firms should be aware of the threat, able to defend themselves...more

Deeper Dive: Ransomware – WannaCry and the Future of Ransomware-as-a-Service

by BakerHostetler on

In our 2017 BakerHostetler Data Security Incident Response Report, we addressed the increasingly ubiquitous scourge of ransomware, one of the fastest-growing types of malware causing data security incidents. We noted that...more

Bridging the Week - May 2017 #4

Innocuous Changes in CME Group Globex Rule Could Inadvertently Increase Potential FCM Liability Bigly: CME Group announced amendments to its rule related to Globex order entry that will affirmatively require all persons that...more

OCIE Publishes Risk Alert In Response to WannaCry Ransomware

by Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert (Risk Alert) on May 17, 2017 in response to “WannaCry,” the ongoing...more

Don't WannaCry: Ten Questions Boards and Company Management Can Ask in the Wake of Recent Ransomware Attacks

by Ropes & Gray LLP on

The WannaCry ransomware attack that hit computers around the world last week is yet another reminder that computers play key roles in most enterprises, and that it does not take much to disable those computers. Questions...more

WannaCry Ransomware Alert

This is not a drill. Companies and law enforcement agencies around the world have been left scrambling after the world’s most prolific ransomware attack hit over 500,000 computers in 150 countries over a span of only 4...more

When “WannaCry” Strikes: Preparing for and Responding to the Largest Ransomware Attack in History

As many around the world were preparing for the Mother’s Day weekend, the WannaCry ransomware attack hit over 70,000 organizations in nearly 100 countries in just one day, Friday, May 12th. After the weekend, the attack had...more

DocuSign Breach Leads to Email Malware Campaign Requesting Wire Transfers

Electronic signature technology company DocuSign has admitted that it suffered a breach of one of its computer systems resulting in stolen data including customer and user email addresses. The breach has allowed the hackers...more

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Cybersecurity

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