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QATAR: Promulgating the Cybercrime Prevention Law

On 15 September 2014, Qatar’s Emir approved Law No. 14 of 2014, The Cybercrime Prevention Law (“Cybercrime Law”). Although it has not yet been published in Qatar’s Official Gazette, the text of the law was published in the...more

Privacy Top Five: Issues And Concerns In The First Six Months Of The Apps

That is, on receiving the personal information from a third party, you must contact each individual whose personal information you have now “collected” and notify them of the mandatory matters specified in the APPs, if such...more

Massive Online Security Breach – Are You Reactive or Proactive?

A few weeks ago, a Russian cyber gang amassed around 1.2 billion user name and password credentials belonging to more than 500 million email addresses. This may be to date the largest cache of stolen data. The cyber gang...more

Secret Service Raises Warning About Backoff POS Malware

The Secret Service, which investigates financial crimes, issued a security Alert on July 31, 2014, warning of malware named “Backoff” that was being used to steal payment card data from point-of-sale (POS) systems. The Alert...more

Community Health Systems' HIPAA Breach: Significant Lessons for Health Care and Non-Health Care Companies

On August 18, 2014, Community Health Systems, Inc. (CHS) publicly confirmed, in a filing with the Securities and Exchange Commission (CHS filing), that its computer network was attacked between April and June 2014 by hackers...more

The Inevitable Cyber Break In: Are You Protected?

The prevalence of cyber data breach over the years has not only grown in number, but has also grown in size. Perhaps the most well-known example of a large-scale data breach is that suffered by Target Corp. occurring at the...more

Russian Crime Ring Possesses Mass Quantities of Stolen Online Information

With recent reports that a Russian crime ring may have stolen the largest collection of online data — including 1.2 billion username and password combinations—effective data security is more critical than ever for all...more

What Companies Can Do to Protect Themselves in the Face of Yet Another Massive Data Breach

Last week it was reported that a small group of Russian computer hackers illegally obtained an unprecedented quantity of internet credentials, including 1.2 billion username and password combinations, and over 500 million...more

Cyber and Data Security and Privacy Liability: The Problem Isn’t Going Away. Get Out in Front of the Problem By Insuring Your...

On August 6, 2014, the New York Times – and other media outlets – reported that a Russian crime ring had amassed the largest known collection of stolen Internet data – a cache of at least 1.2 billion user name and password...more

Hackers steal 1.2 billion passwords – 4 steps to take now

The New York Times reported this week that an organized Russian criminal group stole approximately 1.2 billion user name and password credentials associated with more than 500 million email addresses from hundreds of...more

SEC Commissioner Highlights Need for Cyber-Risk Management in Speech at New York Stock Exchange

As we’ve previously reported, cyber risks are an increasingly common risk facing businesses of all kinds. In a recent speech given at the New York Stock Exchange, SEC Commissioner Luis A. Aguilar emphasized that cybersecurity...more

Using Words To Battle Cyber Losses

Words matter when it comes to cybersecurity. With security concerns dominating today’s corporate planning from the Board on down, the CIO often comes in as a technical expert, providing an analysis of the threat...more

OCC Report Highlights Risks Linked to Evolving Cyberthreats

According to the latest semi-annual risk report issued by the U.S. Office of the Comptroller of Currency (OCC), new methods of money laundering and a growth in both the volume and sophistication of electronic banking fraud...more

New Mandatory Exclusions in Standard CGL Policies Limit Coverage for Data Breaches

The insurance industry continues to respond to the growing threat of data breaches by directing businesses facing that risk towards new, risk-specific cyber insurance products, while attempting to restrict coverage for data...more

Court Certifies Interlocutory Appeal for the FTC v. Wyndham Matter

This blog previously discussed various aspects of the Federal Trade Commission (“FTC”) action filed against Wyndham Worldwide Corp. (“Wyndham”) under Section 5 of the FTC Act, which prohibits “unfair and deceptive acts or...more

Managing Risk in an Inhospitable Environment: The Restaurant and Hospitality Industries are an Alluring Destination for Cyber...

The recent onslaught of cybersecurity incidents and payment card thefts dominate daily headlines and have captured the nation’s attention—from the diner whose credit card was compromised during a data breach to the President...more

Cyber Risks for the Boardroom Part 4: Coverage for Investigations

Part 4 in our continuing series: “Cyber Risks – Director Liability and Potential Gaps in D&O Coverage”: Coverage For Investigations - One of the biggest gaps in coverage in D&O coverage today is the lack of...more

Cyber Risks And The Impact On Company Directors

A series of high profile data breach incidents have brought into spotlight the increasing regularity and number of incidents, the significant costs associated with such incidents and the potential exposure of Boards of...more

SEC Cybersecurity Initiative: Five Steps ALL Broker-Dealers and Investment Advisers Should be Taking

Last week, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more

Banking & Financial Services E-Note

In This Issue: - Appeals Court Says Dodd-Frank Clause Violates 1st Amendment - Basel Committee Eases Derivatives Rule for Banks - CFPB Revises International Money Transfer Rule - AG Seeks More Enforcement...more

A CTO’s Views On How To Combat Hackers & Cybercriminals

In this article, I delve into the views and opinions of a chief technology officer of a telecommunications company to understand important steps a company can take to combat hackers and cyber-criminals....more

Specific Steps Broker-Dealers and Investment Advisers Should Take in Response to the SEC’s Cybersecurity Initiative

On April 15, 2014 the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert announcing its Cybersecurity Initiative....more

SEC Issues Cybersecurity Risk Alert

On April 15th, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued a Risk Alert concerning its initiative to assess the cybersecurity preparedness of the securities industry. The Risk Alert states that...more

SEC Cybersecurity Roundtable Addresses Broker-Dealer and Investment Adviser Risks

On March 26, 2014, the Securities and Exchange Commission (SEC) hosted a roundtable to discuss cybersecurity issues facing public companies, broker-dealers, investment advisers and other market participants. The roundtable...more

A Brief Survey of Current and Future Developments in Privacy, Data Protection and Cyber Security Law

The challenges confronting corporate counsel regarding privacy, data protection and cyber security have never been more daunting: dealing with the threat of increasingly sophisticated cybercriminals, responding to data breach...more

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