Cybersecurity Cyber Attacks

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

Senate Intelligence Committee Approves Cybersecurity Bill

The Senate Intelligence Committee on June 8th voted 12-3 to approve a cybersecurity bill authored by Senate Intelligence Committee Chairman Dianne Feinstein (D-CA) and Vice Chairman Saxby Chambliss (R-GA). S. 2588, the...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

PCAOB Focuses on Cybersecurity at Standing Advisory Group Meeting

Panelists at the PCAOB’s June 25 Standing Advisory Group Meeting discussed cybersecurity and the potential implications for financial reporting and auditing. Some of the highlights from the panel include the following...more

The Admiral Sets A Good Course

Admiral Mike Rogers, the new leader of the National Security Agency and Cyber Command at the Defense Department, certainly has taken a different approach from his predecessor, General Keith Alexander. Right out of the gate,...more

Cybersecurity—There Is an App for That!

Many of our readers and those active in cybersecurity have been following ThreatWatch from Nextgov. This highly informative site provides a daily snapshot of the data breaches impacting organizations and individuals on a...more

DOJ and FTC’s Cybersecurity Policy Statement Should Ease Antitrust Nerves

Several recent and well-publicized cyberattacks have increased the visibility of their threat to businesses’ private financial information and customers’ personal information. The increased attention has also led companies...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

Oil and Gas Industry Forms Information Sharing Group to Combat Cyber Threats

In response to the growing threat from cyber-attacks, the oil and gas industry has announced the formation of an information sharing clearinghouse. The new group, known as the Oil and Natural Gas Information Sharing and...more

New OpenSSL Bug is More Heartburn than Heartbleed

Only three months after uncovering the Heartbleed bug, two new data security threats were discovered in the same OpenSSL software package used to encrypt the majority of web communications. Although not as dangerous as...more

If Exposed to Cyber-Attacks, Cyberinsurance May Cover Losses

Your network is your company’s life blood. You want to be protected in the event your cybersecurity is breached; the attack on Target being a recent, well-publicized reminder to the threat of cyber attacks. ...more

Calling All Boards of Directors: Four Recommendations from the SEC

SEC Commissioner Luis Aguilar recently spoke at the New York Stock Exchange Conference “Cyber Risks and the Boardroom.” In his speech, Commissioner Aguilar emphasized the importance of cybersecurity and how fast the need for...more

Is the Password Finally Dead? Fernando Corbató Hopes So.

As noted in a recent article in the Wall Street Journal, although his impact on our daily lives arguably rivals that of Bill Gates, Mark Zuckerberg, and other giants in the computer industry, the name Fernando Corbató remains...more

SEC Tells Investment Advisers and Private Equity Firms to Prepare for Cyber Attacks

As part of its “Cybersecurity Initiative,” the SEC’s Office of Compliance Inspections and Examinations (OCIE) has sent extensive cybersecurity document requests to more than 50 registered broker-dealers and registered...more

2014 Verizon Report Offers Advice For Combatting Nine Common Threats To Cybersecurity

The 2014 Verizon Data Breach Investigations Report (DBIR) was released on April 22, providing the deep empirical analysis of cybersecurity incidents we’ve come to expect from this annual report. The primary messages of this...more

Cybersecurity, solar energy and the electric grid

A group of Russian hackers claims to have identified security gaps in widely-used solar panel monitoring software. The monitoring platform's developer is said to be fixing the gaps -- but can hackers damage the electric...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

Broker-Dealers and Investment Advisers Now Targeted by Both Cyber Intruders and SEC Cybersecurity Examiners

Cybersecurity has increasingly become a critical issue for all types of businesses, few more so than broker-dealers, investment advisers and others in the financial sector. The cyber threat is much broader than customer data...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

Verizon’s Data Breach Report Reveals The Nine Most Pressing Corporate Security Threats

As April comes to a close, it’s time once again for Verizon Enterprise Solutions’ Data Breach Investigations Report to remind us just how important data security is to the corporate world. Released Wednesday, the report,...more

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