Cybersecurity

Cybersecurity is a term used to describe methods and systems for protecting sensitive information in the electronic sphere. As more financial, business, and personal information becomes exclusively maintained and... more +
Cybersecurity is a term used to describe methods and systems for protecting sensitive information in the electronic sphere. As more financial, business, and personal information becomes exclusively maintained and stored electronically, the risks of attacks, leaks, and disclosures become more pronouced. The concept of Cybersecurity encompasses a broad array of issues, including governmental regulations to ward off cyber terrorists, industry data collection and maintenance practices, and consumer advocacy to ensure the privacy of individuals' personal and medical information.     less -
News & Analysis as of

China Adopts Tough and Sweeping Cybersecurity Law

On November 7, 2016, the Standing Committee of China’s National People’s Congress promulgated the Cybersecurity Law of the People’s Republic of China, a law James Zimmerman, chairman of the American Chamber of Commerce in...more

Officers and Directors Spared Home Depot Data Breach Derivative Lawsuit

Officers and directors may breathe a temporary sigh of relief following the recent dismissal of the Home Depot data breach derivative case. Others will look to the facts for guidance. The complaint alleging the board had...more

Financial Services Weekly News - December 2017

Editor's Note - OCC to Move Forward with Federal FinTech Charter. In a development foreshadowed in the April 6, June 29 and September 14 editions of the Roundup, on December 2, the Office of the Comptroller of the...more

How to Prepare for an FDIC Cybersecurity Examination

FDIC bank examinations generally include a focus on the IT systems of banks with a particular focus on information security. The federal banking agencies issued Interagency Guidelines Establishing Information Security...more

Commission on Enhancing National Cybersecurity Releases Report

On December 1, the nonpartisan Commission on Enhancing National Cybersecurity (Commission) released a report on securing and growing the national economy. This report includes six imperatives for enhancing cybersecurity (and...more

What Does China’s New Cyberspace Sovereignty Mean, and is Your Company Ready?

On Nov. 7, 2016, the official and finalized version of the Cyberspace Security Law (the “CSL”) was approved by the Standing Committee of the National People’s Congress and signed off by Chinese President Xi Jinping. Under the...more

Homeland Security Issues IoT Guidance for Businesses

The Department of Homeland Security (DHS) has published non-binding principles and best practices to help businesses work through key Internet-of-Things (IoT) security issues. Entitled “Strategic Principles for Securing the...more

Commission on Enhancing Cybersecurity Report Calls for Greater Investment

On Friday December 2nd the President’s Commission on Enhancing Cybersecurity (“Commission”) released their long-awaited Report on Securing and Growing the Digital Economy. The nonpartisan Commission was created in April by...more

Financial Services Report, Winter 2016

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more

Recent Litigation Against Product Manufacturers Shows the Reach of Cybersecurity Liability

Plaintiffs have increasingly sought to hold companies accountable through litigation for security breaches or hacks of their computer systems that store personal information. Two recent court decisions in California...more

The Digital Download - Alston & Bird’s Privacy & Data Security Newsletter – November 2016

Updates on the EU: German DPA Publishes First Privacy Shield Guidelines, Requires German-Law Contracts for Transfers. On June 7, 2016, the European Commission adopted the EU-U.S. Privacy Shield. One question that many...more

Home Depot Cyber Derivative Action Shuttered: Another Data-Breach Derivative Suit Fails to Clear Fundamental Corporate Law Hurdles

The recent dismissal of a Home Depot derivative action ends a string of high-profile derivative suits stemming from large-scale corporate data breaches. On November 30, the Northern District of Georgia dismissed a shareholder...more

Your Daily Dose of Financial News

Here’s an interesting take on the future of the labor market (especially for an emerging generation that is better with a screen than eye contact)—because robots and AI will be able to take over anything that’s routine,...more

Home Depot directors prevail in cybersecurity liability claim

In our November 15, 2016, blog post, “Cybersecurity liability: Delaware has good news for directors,” we discussed an influential case that, while not directly dealing with cybersecurity, outlined the duty of oversight that...more

Presidential Cybersecurity Commission Issues Ambitious Policy Roadmap for Next Administration

On Thursday, December 1, the nonpartisan Commission on Enhancing National Cybersecurity, established pursuant to an Executive Order in February, issued its report, outlining more than 50 recommendations for the next...more

OCR Issues Alerts Regarding Phishing Email Disguised as Official OCR Audit Communication

The HHS Office for Civil Rights (OCR) published an alert on November 28 describing a phishing email being circulated on mock HHS departmental letterhead under the signature of OCR Director Jocelyn Samuels. The email prompts...more

2016 Breach Roundup, Part I: U.S. State Data Breach Notification Laws Highlights and Trends

In many respects, 2016 has been a remarkable year, but one constant with recent history is that multiple states (six this year) amended their breach notification statutes. As is commonly stated, the U.S. ...more

FriendFinder Data Breach Exposes 400 million+ Accounts

FriendFinder Networks is a company in the adult entertainment, social networking, and online dating space. Several databases from FriendFinder Networks web sites with more than 412 million accounts, including usernames,...more

Compliance Clock Begins to Tick for BIAS Providers Following Publication of Privacy Rules in the Federal Register

The FCC’s new privacy rules were published in the Federal Register last Friday, December 2, 2016. The publication of these rules initiates the period in which broadband ISPs must come into compliance with the agency’s...more

New Rules of the Cyber Road: Federal Banking Regulators Seek Comment by January 17, 2017 on Proposed Cybersecurity Regulations

Continuing the trend of recent years, cybersecurity has remained at the top of the regulatory agenda for several federal and state agencies. For financial institutions, keeping track of the dizzying array of proposed...more

Run for Cover: Here Comes the Blockchain!

Blockchain, most notably linked to Bitcoin, is very much a technology on the rise. Blockchain has recently made its way to Wall Street, with the largest financial institutions clamoring to partner with buzzing fintech...more

HHS Issues Warning About Phishing Campaign Disguised As Official Communication

As part of its efforts to assess compliance with the HIPAA Privacy, Security and Breach Notification Rules, the US Department of Health and Human Services (HHS) Office for Civil Rights (OCR) engages in audits of covered...more

NY Financial Services Companies’ 2017 Resolution: Cybersecurity

The New York State Department of Financial Services (DFS) made headlines back in late September with a “first-in-the-nation” piece of legislation aimed at mandating specific cybersecurity protocols for banks, insurance...more

Cybersecurity Risk: Latest Guidance from Bank Examiners

The Office of the Comptroller of the Currency has indicated in a recent bulletin that its examiners will gradually incorporate a Cybersecurity Assessment Tool into its examinations of national banks and other institutions...more

Additional Clarification regarding HHS OCR Phishing Email Alert

More information from HHS OCR about the phishing threat... ..On November 28, 2016, the HHS Office for Civil Rights issued a listserv announcement warning covered entities and their business associates about a phishing...more

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