News & Analysis as of

Cyber Attacks Cybersecurity

Privacy Tip #83 – “Alexa, Disconnect Yourself from the Internet Now!” BrickerBot Malware Attacking IoT

We often talk about how anything that is connected to the Internet is hackable and unsafe, and to be careful about how you buy and connect devices, products, appliances, home security systems and other wireless “things.”...more

Deeper Dive: Frequency and Severity

by BakerHostetler on

All industries are affected by cyberattacks, but how often and to what extent they occur vary greatly by industry type. As for frequency, the healthcare industry in 2016, for the third year in a row, saw the greatest...more

Be Compromise Ready: Go Back to the Basics

by BakerHostetler on

We are excited to release our third annual BakerHostetler Data Security Incident Response Report. This report analyzes the more than 450 data security incidents we led clients through in 2016. Companies continued to...more

Do you get Bragging Rights if the Malware Infecting your Computer was Named after Zeus?

by Bryan Cave on

Over the last decade as the specter of cyber attacks has increased dramatically, financial institutions have been encouraged to look into the use of cyber fraud insurance as one means of minimizing risk. A recent decision by...more

Homeland Security Committee Hearing Focuses On “Borderless Battle” Of Cyber Threats

by King & Spalding on

On March 22, 2017, the U.S. House Committee on Homeland Security heard testimony on the current state of the global cyber battleground, how rapid changes in technology and the expanding Internet-of-Things (“IoT”) present new...more

N.Y.’s New Cybersecurity Regulations: What Financial Services Companies Need to Know

With corporate data security breaches on the rise, the New York State Department of Financial Services (NYDFS) has adopted rules requiring financial institutions to take certain measures to safeguard their data and inform...more

Health Care Group News: FBI Releases Warning on Cyber Criminals Targeting Sensitive Information Through File Transfer Protocol...

by Murtha Cullina on

Cyber criminals are constantly seeking new ways to gain access to personal and health information and, on March 22, 2017, the FBI issued a specific warning to health care providers regarding threats to File Transfer Protocol...more

Cyber security practitioner

by Dentons on

Earlier this year, the chairman of the UK's National Cyber Management Centre warned that "a major bank will fail as a result of a cyber attack in 2017". Scarily, this does not seem so far-fetched. Indeed, it is predicted that...more

OMB Publishes Report On Cybersecurity In 2016

by King & Spalding on

On March 10, 2017, the Office of Management and Budget (“OMB”) released its annual report to Congress under the Federal Information Security Modernization Act of 2014. The report compiles fiscal year 2016 information from...more

A New FBI Warning for Healthcare Providers

The FBI has issued new guidance specifically applicable to medical and dental facilities regarding the cybersecurity risk of File Transfer Protocol (“FTP”) servers operating in “anonymous” mode. FTPs are routinely used to...more

Don’t Rock the Vote: Helping State and Local Governments Fend Off Cyber Attacks

Voting in local, state and national elections could be viewed as a rudimentary form of social media, by which voters share their views and preferences via selection of a candidate or party platform. The distance between this...more

Bipartisan State Cyber Resiliency Act Will Help Local Governments Defend Against And Recover From Cyber Attacks

by King & Spalding on

On March 2, 2017 lawmakers in both the U.S. Senate and U.S. House of Representatives introduced the State Cyber Resiliency Act, which would give state, local, and tribal governments grants to boost cybersecurity protections. ...more

Companies May Soon Have a New Defense Against Cyber-Attacks

by Jackson Lewis P.C. on

The Active Cyber Defense Certainty Act is a new bill that is gaining positive bipartisan support and significant interest from business communities, lawmakers and academics. The proposed bill amends the Computer Fraud and...more

Cybersecurity Hacks Remind Law Firms to Secure Their Data

In late December 2016, the United States Attorney’s office in Manhattan unsealed an indictment accusing three Chinese traders of hacking into two US-based global law firms to obtain insider information on mergers and...more

Federal Agencies Hit with 30,899 Cyberincidents in 2016

The Office of Management and Budget (OMB) released a report this week indicating that federal agencies experience almost 31,000 cyberincidents in 2016. The Federal Deposit Insurance Corporation was responsible for 10 of 16...more

Advice to Healthcare Providers on Ransomware from the Head of the FBI

On Wednesday, March 8, James B. Comey, Director of the FBI, was at Boston College to deliver the keynote address for the inaugural Boston Conference on Cyber Security (BCCS 2017). Director Comey addressed various industry,...more

Home Depot Settles with Financial Institutions for Over $25 Million in Data Breach Case

New filings in the consolidated Home Depot data breach litigation, which we have previously covered on this blog, indicate that Home Depot and the remaining financial institution plaintiffs have reached a...more

Proposed Federal Cybersecurity Regulations for Financial Institutions Face an Uncertain Future

Last year’s proposed comprehensive framework for cybersecurity rules for large financial institutions is suddenly facing an uncertain future. With the comment period having closed as of February 2017, the framework was facing...more

Yahoo Breaches Cost Shareholders $350 Million From Lowered Purchase Price, CEO Forfeits $14 Million in Compensation

Yahoo’s troubles for failing to timely disclose security breaches provides rare insight into quantifying the financial and other costs to a company’s shareholders and leadership when a security breach occurs and is...more

Privacy Tip #77 – FTC Offers Tips to Businesses That Have Been Impersonated by Phishing Schemes

On March 6, 2017, the Federal Trade Commission (FTC) released tips and a video to businesses that have been impersonated by Phishing schemes. The guidance, entitled “Has a phishing scam hooked your company’s good name?”...more

Cybersecurity, A-Z: A is for Active Cyber Defense

(First in a continuing series.) Active Cyber Defense, or ACD, is a broad category encompassing different kinds of actions that organizations can take to defend against breaches and cyberattacks. The operative word is...more

Task Force Report and NIST Revisions Highlight Need for Increased Private-Sector Cybersecurity Efforts

by King & Spalding on

New technologies enhance the capabilities and efficiency of the energy industry. But these technologies also bring increasing cyber risks to the industry, the economy, and national security. Recognizing that critical energy...more

Experts Warning of New Google Chrome Malware Scam

Cybersecurity experts have been warning users about a Google Chrome scam that targets Windows users in the US, UK, Canada and Australia. The scam, which began in December, uses a pop-up stating “The ‘HoeflerText’ font wasn’t...more

Funds Talk: March 2017

OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers - On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...more

A Primer On FTC Cybersecurity Enforcement

According to the Breach Level Index, the total number of data records lost or stolen in just the first half of 2016 was 554,454,942, stemming from 974 breach incidents. In the entire year of 2015, there were 707.5 million...more

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Cybersecurity

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