News & Analysis as of

Cyber Crimes Cybersecurity

Privacy Perils: Hackers Breach Instagram User Accounts

by Bass, Berry & Sims PLC on

Engineers at Instagram have revealed that hackers managed to gain access to the contact numbers and email addresses (but not passwords) of some of Instagram's users via a bug in the app's API (Application Programming...more

Not So Entertaining: Cybercrime In The Entertainment Industry

by Jackson Lewis P.C. on

Although certain industries are known targets for cyber attacks – healthcare, financial, government – cyber attacks pose a threat to all sectors. Organizations in the entertainment industry have increasingly become targets of...more

Massachusetts Lawmakers Turn Attention to Cybersecurity

by Mintz Levin on

In the wake of growing concerns about data privacy and cyber threats, Massachusetts lawmakers are increasingly focused on evaluating and improving the state’s cybersecurity policies and information technology infrastructure....more

Five Coverage Tips from Recent E-mail Scam Insurance Decisions

by Orrick - Trust Anchor on

The number of decisions considering claims for insurance coverage resulting from Business Email Compromise (“BEC”) scams has been increasing, providing policyholders with some hope, and some clarity, in this muddy area....more

District Courts Buck Trend on Fidelity Coverage for Social Engineering and Business Email Compromise Schemes

by Carlton Fields on

The FBI continues to warn that losses are on the rise from business email compromise (BEC) or “social engineering” schemes, which the Bureau describes as: Carried out by transnational criminal organizations that employ...more

Avoiding Management Struggles When it Comes to Data Breaches: Part 4

by Bryan Cave on

The best way for a company to handle a data breach is to be prepared. As we discuss in our data breach readiness handbook, preparation includes, among other things, drafting an incident response plan, reviewing...more

Follow the Money and Beware the Extra “L”: First Department Sustains Claims against Fund Administrator After Hackers Grab Millions

A legal feud is underway between the world’s biggest hedge fund administrator and a former client over an email scam that resulted in hackers stealing millions in client funds. And not surprisingly, the time-honored...more

At the Intersection of Cybersecurity and White Collar

by Blank Rome LLP on

The global "ransomware" cyberattack in early May 2017 resulted in tens of thousands of computer systems being taken hostage by hackers and, in the instances involving hospitals, put lives at risk. Companies that suffered...more

Privacy Tip #97 – Send Your Kid to Cyber Camp This Summer

I have lamented repeatedly that we have a dearth of cyber talent in the U.S. to meet the needs of employers. Many of our clients recruit talent from other countries in order to meet their cyber needs. The need continues to...more

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

Buyout Firms Must Take Action to Respond to Global Cyber Threats

by Latham & Watkins LLP on

Cybercrime has become a critical issue for buyout firms as hackers are increasingly targeting sensitive business data to profit from insider knowledge. According to a Private Funds Management survey of 91 PE houses, 54% of PE...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

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

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

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

Alabama Man Sentenced to Prison for Elaborate “Phishing” Scheme

by Balch & Bingham LLP on

An Alabama man has been sentenced to spend six months in prison for illegally accessing the personal information of over fifty women. For over two years, Kevin Maldonado engaged in a hacking technique called “phishing,”...more

Increasingly Sophisticated And Damaging “NotPetya” Cyber Attack Highlights Importance Of Timely Update

by King & Spalding on

Last Tuesday morning, June 27, 2017, a version of the “Petya” malware attack—dubbed “NotPetya”—hit several multinational companies in a variety of industries. This is the second major cyber attack in just two months following...more

Southern Oregon University Victim of Phishing Scheme

Last month, Southern Oregon University (SOU) announced that it was the victim of a $1.9 million phishing scheme. SOU received an email purportedly from their contractor, Anderson Construction, requesting the April payment for...more

Stolen Tax Returns? Virginia Seeks a Solution.

Did someone steal your tax return? You are not alone. Indeed, the rise in tax-related identity theft has been well documented. In 2015, the FTC reported a 50% increase in identity theft complaints. A primary cause for...more

OCR Issues Reminder on Security Incidents

Following the frequent and varied ransomware attacks on health care entities over the past few years, the Office for Civil Rights (OCR) published guidance last summer to the health care industry reminding it that a ransomware...more

Phishing Lures: What To Do If You’ve Taken The Bait - U.S. Version

by Dickinson Wright on

Sometimes, it’s easy to know you’re being phished. There’s little chance that a bank administrator in a country you’ve never heard of really needs your help to get the unclaimed money of a deceased, rich foreigner out of the...more

Preparing For and Responding to the Petya Ransomware Attack

While still reeling from last month’s WannaCry attack, organizations worldwide were hit with another global ransomware attack this week, June 27, 2017. The infection began inside the Ukraine but has quickly spread across four...more

Ponemon Institute Study on Costs of Data Breaches Highlights Improvement and New Risks for U.S. and Global Companies

by Ballard Spahr LLP on

The average cost of a data breach, on both an aggregate and a per-record basis, has decreased slightly according to the Ponemon Institute's 2017 Cost of Data Breach Study: Global Overview. In addition to presenting recent...more

FCA Guidance On Tackling Cyber Crime

by Reed Smith on

The Financial Conduct Authority recently released guidance regarding cyber resilience (in the form of new webpages) which FCA regulated firms should take account of. While many larger regulated firms have substantial cyber...more

Deja Vu All Over Again: Massive Ransomware Attack Underway

A mere month and a half after the WannaCry strain of ransomware caused major havoc in European and Asian countries, another major ransomware attack hit large institutions across Europe and the United States yesterday. ...more

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Cybersecurity

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