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

Studies Show Ransomware up 6,000% and Reaps Billions and Phishing Emails are Used in 91% of all Cyber-Attacks

A recent IBM study shows that ransomware increased 6,000 percent in 2016 over 2015. According to the report, ransomware was present in almost 40 percent of all spam email messages....more

U.S. Military Special Operations Command Workers’ Data Exposed by Vendor

Military personnel continue to be victimized by data breaches. This time, the personal information of healthcare workers employed by Potomac Healthcare Solutions (Potomac), who work for a U.S. Special Operations Command were...more

No More Ransom Project Expands Membership and Tools

The No More Ransom Project, a coalition of security companies and law enforcement, which was launched through a partnership with the European Cybercrime Centre, the National High Tech Crime Unit of the Netherlands police,...more

Things Manufacturers Should Be Watching In 2017 In The Areas of Corporate Compliance / Litigation

As is our annual tradition, this is the first in a series of posts that provide industry and legal outlooks for manufacturers as we head into 2017. I will start with corporate compliance and litigation. Matt will follow...more

Governor Cuomo Unveils Cybersecurity Proposals Including Cyber Incident Response Team

New York Governor Andrew Cuomo announced a series of cybersecurity proposals that are designed to protect consumers and government entities from cybercrime and identity theft. One of the proposals includes the creation of a...more

PA Appellate Court Finds No Common Law Duty For Employer Handling Of Employee Info After Data Breach

The Pennsylvania Superior Court held yesterday in Dittman v. UPMC et al. that an employer owes no common law duty under a negligence theory to use reasonable care in the collection and storage of employee information and...more

FTC Goes After IoT Device Manufacturer for Alleged Security Vulnerabilities in Routers, IP Cameras

On January 6, the Federal Trade Commission (FTC) announced that it had filed a complaint against Taiwanese D-Link Corp. and its U.S. subsidiary, D-Link Systems Inc. (D-Link), alleging the company made deceptive claims about...more

Cybersecurity 2017: Top Exam Priorities for Federal Securities Regulators

Hedge funds and broker dealers can expect their cybersecurity preparedness to come under scrutiny again this year by federal securities regulators....more

Reminders for US Public Companies for the 2017 Annual Reporting and Proxy Season

This memorandum outlines certain considerations for US public companies in preparation for the 2017 annual reporting and proxy season. Part I of this memorandum discusses new developments and practical action items for the...more

State Data Breach Notification Laws

While most state data breach notification statutes contain similar components, there are important differences, meaning a one-size-fits-all approach to notification will not suffice. What’s more, as data breaches continue to...more

Top Legal Issues Facing the Automotive Industry in 2017

Foley’s Automotive Industry Team has prepared this report that examines what the litigation, enforcement, and regulatory landscape will look like in 2017. Inside, you will learn about: - Managing warranty, recall, and...more

OCIE 2017 Exam Priorities: Focus on Retail, Elderly and Retirement Investors; Market Risks

The SEC’s National Examination Program (NEA) of the Office of Compliance Inspections and Examinations (OCIE) announced that its examination priorities in 2017 will focus on three general areas: retail investors, risks...more

FTC Takes Action Against D-Link for Deceptive Practices Endangering the IoT

The U.S. Federal Trade Commission (“FTC”) has filed a lawsuit against device manufacturer D-link for allegedly deceiving the marketplace about the security of its products and, in turn, unfairly placing customer privacy at...more

2017 Resolutions for Community Banks: A Focus on Cybersecurity

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

Reduce Potential Liability for Data Security Breaches by Negotiating Coverage in Payment Processing Agreements

Credit cards are the primary form of payment received by most retailers. In order to process a credit card, a retailer must enter into an agreement with a bank and a payment processor. Payment processing agreements often have...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

[Event] 12th Annual IP and Commercial Litigation Year in Review - January 26th, Mountain View, CA

Please join attorneys from Fenwick & West's IP & Commercial Litigation Group for this half-day seminar featuring practical information and recent legal developments for technology companies, including in the areas of privacy,...more

New York Department of Financial Services Revises Proposed Cybersecurity Rule

The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and...more

Cybersecurity Still Top FINRA Operational Risk

On January 4, the Financial Industry Regulatory Authority (FINRA) published its annual Regulatory and Examination Priorities Letter providing firms with information about areas FINRA plans to review in 2017 as well as...more

SEC’s 2017 Exam Priorities

OCIE released its 2017 exam priorities on January 12. The priorities list was most notable for being shorter than prior years. But that likely means only more focus, rather than less vigor....more

FTC Charges Taipei Based D-Link for Inadequate Security of Computer Routers and Cameras

The Federal Trade Commission (FTC) has filed a complaint in Northern California against D-Link for putting thousands of consumers at risk over the past decade for failing to have adequate security practices in its routers and...more

Breach of Privacy Prompts Breach of Etiquette: DHHS Sets New Precedent in Privacy Breach Enforcement

On January 9, the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR) took action against a health system for non-timely reporting of a breach of protected health information. It was the first...more

Financial Services Weekly News - January 2017

Editor's Note - In This Issue. The NYDFS revised its proposed cybersecurity regulations, the FDIC sought comment on its new de novo bank deposit insurance handbook, federal banking agencies finalized streamlined call...more

Privacy Tip #69 – Hit with Ransomware? To Pay or Not to Pay

Every day I get a call from a client asking for help involving ransomware. Friends have called in a panic when that dreadful message comes up on the screen informing you that you are the victim of ransomware with instructions...more

A List of Lists

Every December and January you can count on the trade press and the mainstream media to run lists of predictions for the upcoming year and retrospectives on the year past ranking the “best” and “worst” of everything from...more

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