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

What’s In The Cybersecurity Act of 2015?

The Cybersecurity Act of 2015 became law on December 18, 2015. It’s the biggest piece of cybersecurity legislation passed by Congress in recent years. It authorizes and protects certain information-sharing for cybersecurity...more

Tearing Down the Silos

AML and cybersecurity teams must discover what they have in common, identify mutual strengths and weaknesses, and move toward an effective fusion of functions, processes, and mindsets. ...more

Hedge Fund Standards Board Publishes Findings From First Cyber-Attack Simulation

On January 21, the Hedge Fund Standards Board (HFSB) released the results of its first cyber-attack simulation (via a press release dated January 19)....more

Spear-phishing campaigns continue to infiltrate critical infrastructure

The Department of Homeland Security’s Industrial Control Systems Cybersecurity Emergency Response Team (ICS-CERT) has reported that critical infrastructure systems in the U.S. experienced a 20% increase in cybersecurity...more

Responding to a Security Breach: Insurance

It is an otherwise normal day until you, the General Counsel, receive a call from the CIO: “We have a cyber-security breach. We’ve identified some unusual activity and it appears that data has been sent out through unknown...more

Cybersecurity and Data Breaches: How In-House Counsel Can Engage the Board

A company's board of directors has a duty to oversee all aspects of the company's risk management efforts. This includes a duty to recognize and minimize the company's exposure to cyber attacks. In today's increasingly...more

Rise in Cyberattacks on Professional Services Firms

Wilson Elser’s Cyber Incident Response Team has seen an alarming uptick in cyber-criminal activity targeted at professional services firms, particularly accounting firms. As described in more detail below, the criminal...more

Five Questions Clients Asked Most Often in 2015 About Incident Response

We provided incident response and incident response preparedness services to hundreds of companies in 2015. The questions we answered were as unique and varied as the incidents companies faced....more

The CFTC’s Proposed Standards Identify Cybersecurity Best Practices

The Commodity Futures Trading Commission (CFTC) offered several reasons for proposing five new cybersecurity testing requirements for the commodity trading platforms it regulates in its December 23, 2015, Notice of Proposed...more

[Webinar] Safeguarding Trade Secrets and Confidential Information: Top Ways to Mitigate Risks - Jan. 26, 11:00am EST

Did you know that insiders are most likely to steal confidential corporate information? And according to PwC’s Global State of Information Security Survey (2015): - As many as 71% of data security compromises go...more

Director Cybersecurity Risk Oversight and Actions

This article begins by providing an overview of the duty of directors to oversee risk, including cybersecurity risk, in the cyberattack context and then outlines actions that board of directors are taking as reported by...more

Systemic Cyber Risks And The Internet of Things

Companies’ awareness of “cyber” risks has increased significantly because of large and highly publicized data security breaches, such as Target and Home Depot. Companies are starting to more proactively manage the risk of...more

Cybersecurity Risks: Directors and Officers Should Stop, Collaborate and Listen

The risks associated with cyber-attacks and data breaches are growing in Canada and internationally and the costs associated with an organization preventing, detecting, responding to and recovering from such an incident can...more

One Step Closer to the Network and Information Security Directive

On Monday, the European Parliament, Council and Commission came to an agreement on the Network and Information Security (NIS) Directive. The NIS Directive is the first pan-European set of cyber security rules and aims...more

Health Care: HIPAA Covered Entities - Your Organization’s Liability after a Cyber-Attack (12/15)

It is difficult for companies to manage the rapidly evolving legal landscape of cybersecurity. All companies, no matter the size, are potential targets for a cyber-attack. A common question posed by concerned In-House...more

Quantum Dawn 3: SIFMA’s Cybergames

It reads like a movie script: First, the financial services industry experiences a bout of firm-specific attacks in the form of distributed denial of service (DDoS), domain name system (DNS) poisoning, or breach of personally...more

White Collar Enforcement Omnibus Edition—Cyber Crimes, Sanctions and Spoofing, Oh My!

Why it matters: Since our last newsletter, a lot has been going on in white collar enforcement… so much so that we decided to devote an entire newsletter to it. It was a month of superlatives. The DOJ and the SEC announced...more

Business Litigation Alert: "Is Your Board of Directors Providing Sufficient Oversight for Cyber Attacks?"

Last month, we discussed the recent federal court decision that allows whistleblowers to sue board members directly for retaliation. Now, it seems as though board members are assuming a bigger role in managing another...more

Tips for Protecting Your Company Against Cyberattacks

Cybersecurity has become, as it should, an extremely important topic on company boards’ agendas. The main question on everyone’s mind is: “How can we eliminate this problem?” The answer, unfortunately, is that you can’t....more

Cybersecurity & Nonprofits: A Matter of Time?

The ever increasing cyber-attacks and data breaches targeting the private sector and government agencies, and the increased focus on cybersecurity plans and preparedness, may seem like remote risks for nonprofit...more

Cybersecurity and Data Privacy: Potential New Cybersecurity Regulations for Financial Institutions and Insurance Companies (11/15)

On the heels of recent high profile cyber-attacks against financial institutions and insurance companies, the New York State Department of Financial Services released a letter on November 9, 2015 that outlines proposed...more

Which Way is the “Wyndham” Blowing? Cyber Regulation After FTC vs. Wyndham

Does the Third Circuit’s recent decision in FTC v. Wyndham Worldwide Corp. usher in a new era of enforcement by the FTC and other federal agencies regarding cybersecurity practices? Regardless of the answer, it is important...more

Recent Amendments to Security Breach Notification Laws Further Complicate Breach Notification for Employers

It is not a matter of "if" but "when" an employer will be required to notify employees of a security breach.  Forty-seven states require employers to notify employees when defined categories of personal information, including...more

Senate Passes Legislation To Ease Sharing Of Cybersecurity Threat Information

On October 27, 2015, the Senate passed S. 754, the Cybersecurity Information Sharing Act of 2015 (“CISA”), which addresses how companies can share cyber threat information with the federal government. The legislation aims to...more

Uber class action case hits roadblock

A California federal judge has ruled that a former Uber driver who is suing Uber in a proposed class action case was unable to show that he suffers an immediate threat of identity theft and dismissed the driver’s first...more

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