Cyber Attacks

News & Analysis as of

FDA Flunks Data Security Exam

Last week, the HHS Office of Inspector General released a damning report on FDA’s data security: “The objective of this review was to determine whether the FDA’s network and external Web applications were vulnerable to...more

Consequences of a Data Breach: Lessons from Wyndham Worldwide

On October 20, 2014, Wyndham Worldwide Corporation won dismissal of a shareholder derivative suit seeking damages arising out of three data breaches that occurred between 2008 and 2010. Dennis Palkon, et al. v. Stephen P....more

DOJ Will Not Challenge Cyber Security Data Sharing Platform

On October 2, 2014, the U.S. Department of Justice announced that a cyber intelligence data-sharing platform known as TruSTAR, developed by CyberPoint International, LLC, passed antitrust muster. The TruSTAR platform allows...more

Medical Information More Valuable to Hackers Than Credit Card Numbers

In light of the recently reported large healthcare data breaches that have resulted in the potential theft of the personal information of millions of patients, the FBI warned healthcare providers yet again of the dangers of...more

Are you Really Protected? The Proliferation of Data Breaches Highlight the Increasing Role Cyber Insurance will Play

Every day seems to bring a new story about a significant data breach. Just within the last few weeks we have learned of the following cyber attacks... ...more

Does Your Cyber Risk Policy Protect You In the Event of an Insider Attack or Data Breach?

Protecting a company against data breaches requires not only measures to prevent the adverse cyber event, but also adequate insurance to minimize the financial impact should such an event occur. Unlike traditional lines of...more

FDIC to Banks: Prep for “Urgent” Threat of Cyberattacks

Financial institutions are facing an “urgent” threat of hacks and cyberattacks causing regulators to take a closer look at banks’ efforts to combat such concerns, the Federal Deposit Insurance Corporation (FDIC) Chairman...more

October is National Cybersecurity Awareness Month

Another year has passed and we again welcome October, National Cybersecurity Awareness Month. It seems a bit dismissive to have only one month dedicated to cybersecurity awareness given the magnitude and number of...more

Health Care E-Note - September 2014

In This Issue: - Doctors, Insurers Critical of Medicare Physician Fee Schedule - Health Spending Expected to Increase Modestly Over Next Decade - U.S. Hospitals Have Highest Administrative Costs...more

Cyber Voluntary Payment Defense Thwarted by Bank Fraud Regulation

Financial institutions are one of the entities most threatened by cyber crisis events. As data breaches and cyber threats become more inventive, the risks to financial institutions and their clients continue to grow. However,...more

Privacy Tuesday - October 2014

A new month, a new Privacy Tuesday. JPMorgan Chase: Baiting the Hook for Phishers - Cybercrime researchers say that the 83 million customer records (76 million consumer and 7 million small business) swiped from...more

NBC's The Blacklist or Real-Life Attack on JPMorgan?

Attack of the hackers - Whenever I watch one of those hacker movies, I always think, “There’s no way they could actually hack into [insert the name of a heavily protected government or financial institution database...more

Privacy & Cybersecurity Update - September 2014

In This Issue: - Home Depot Data Breach — Lawsuits, Calls to Action and Lessons Learned - Skadden Participates in FBI Cyber-Intelligence Workshop - FTC Explores Impact of ‘Big Data’ on American...more

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

By “Any Manner” Of Means: Securing Cyber-Crime Coverage After Zurich v. Sony

Much has been written about the New York Supreme Court’s landmark ruling in Zurich American Insurance Co. v. Sony Corp., Index. No. 651982/2011 (N.Y. Supr. Ct. Feb. 21, 2014), in which a New York trial court denied coverage...more

Target Files Motion to Dismiss Data Breach Lawsuit

By now, we all know about the massive data breach at national retailer Target over the 2013 holiday season. The cyber-attack was carried out by sophisticated criminal hackers, who allegedly gained access to Target’s network...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

Board Oversight of Cybersecurity

Cyber-attacks on U.S. companies have increased over recent years resulting in significant costs to companies. According to surveys, U.S. companies have experienced a 42% increase between 2011 and 2012 in the number of...more

Survey Shows Cybersecurity Danger Worse than Most Retailers Think

There's a huge gap between retailers' perceptions and reality when it comes to cyberattacks and preventing data breaches, according to a new study from Dimensional Research and Tripwire. When asked how quickly their...more

Banking & Financial Services E-Note - August 2014

In This Issue: - Lawmakers Urge Fed to Clarify Emergency Lending Rules - CFPB Pushing Colleges to Be More Transparent in Bank Deals - Report Finds Reversal in Trend Toward Subprime Auto Loans - CFPB Concerned...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

Weighing in – 1.2 Billion Usernames and Passwords. What, Me Worry About CyberSecurity?

Last month one of our lead articles was Cyber Security: Forewarned is Fair-Warned. Last week the New York Times published an article reporting that at least 1.2 billion usernames and passwords were hacked by a Russian...more

Cybersecurity: How well are Latin American banks protected against cyber attacks?

Inter-American Dialogue's Latin America Advisor asked Marcela Cristina Blanco, associate attorney in Diaz Reus’ Bogota, Colombia office: How Well Do Latin American Banks Protect Against Cyber Attacks?...more

FBI Warning to Health Care Sector Holds True

In April of this year, the FBI issued a Private Industry Notification (PIN) to the health care industry warning of the “likely increase [in] cyber intrusions against health care systems.” In the same month, and into June of...more

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