News & Analysis as of

Extortion

Second Circuit Reinforces Narrow Definition of 'Official Act' in Politician's Fraud Case

by Pepper Hamilton LLP on

On July 13, the U.S. Court of Appeals for the Second Circuit vacated the conviction of former New York State Assembly Speaker Sheldon Silver, who was convicted in 2015 on seven counts of honest services fraud, Hobbs Act...more

The Second Circuit Overturns Watershed Conviction Of Sheldon Silvery Based On Recent Supreme Court Decision

by Shearman & Sterling LLP on

On July 13, 2017, the U.S. Court of Appeals for the Second Circuit overturned the high-profile, political corruption conviction of one of the most powerful politicians in New York State— former Speaker of the New York State...more

Ransomware: Assessing & Crafting Coverage

by GB&A Insurance on

When it comes to cyber risk insurance, coverage for ransomware related claims is an important component. And with ransom attacks on the rise, it’s more important than ever. But organizations need to be careful not to develop...more

Bricks Through Windows, Protection Tax Schemes, And Early Dismissal of Civil RICO Claims

by Dickinson Wright on

Toward the end of HBO’s legendary television series, The Sopranos, a classic racketeering scheme is presented. Two members of Tony Soprano’s crime family enter a Starbucks-like, big-box coffee store and speak to the manager....more

Cyber-Extortion: A How-To Guide

by Bryan Cave on

Cyber extortion refers to a situation in which a third party threatens that if an organization does not pay money, or take a certain action, the third party will take an adverse action against the organization. Among other...more

Privileged information is generally safe from Subject Access Requests

by White & Case LLP on

Subject Access Requests ("SARs") are an increasingly popular weapon in litigation, because they can be used to provide a cheap and quick form of pre-action disclosure. However, courts have confirmed that information subject...more

Data Breach Decision Points: Part 7

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

Court Nullifies CFO’s Employment Because of Prior Extortion Conviction

by Zuckerman Spaeder LLP on

In lawsuits over contracts, parties sometimes assert defenses that contracts are voidable or void. A voidable contract is one as to which the party should have a choice as to whether it is enforceable or not; for example,...more

Naughty Secrets – Findings in the Ashley Madison Breach

by Bennett Jones LLP on

A quote attributed to FBI Director Robert Mueller is, “There are only two types of companies: those that have been hacked and those that will be”. The assessment of the Ashley Madison cyber-attack has lessons for all...more

IPRs Threatened/Filed as Money-Making Strategy

On March 10, 2016, Silver Star Capital, LLC filed a petition for Inter Partes Review of U.S. Patent No. 6,212,079 (IPR2016-00736). The patent owner is Power Integrations, Inc. On its face, this seems like another IPR filed...more

Symantec releases “Ransomware and Businesses” report

Symantec Corp released its annual “Ransomware and Businesses” report this week outlining the increasing sophistication of ransomware attacks. Individuals continue to be the primary target of ransomware attacks as they usually...more

Supreme Court Narrows Interpretation Of Federal Corruption Statute

by Pepper Hamilton LLP on

On June 27, the U.S. Supreme Court vacated the conviction of former Virginia Governor Robert McDonnell, narrowing the definition of an “official act” in federal corruption cases. McDonnell v. United States, No. 15-474 (2016)....more

FBI reports $3.1 billion lost by businesses through “business email compromise”

Wire fraud crime has long been a problem for financial institutions and banks. However, wire fraud through email is a completely different beast. Originally characterized by law enforcement as an extension of traditional wire...more

First home cyber protection insurance offered by Hartford Steam Boiler

The Hartford Steam Boiler Inspection and Insurance Company has announced that it is offering “the first personal lines cyber insurance program for consumers, protecting against computer attacks, cyber extortion, online fraud...more

Your Organization is Impacted by Ransomware - Now What?

by Bryan Cave on

Some forms of cyber extortion are automated and not targeted at any specific victim. For example, “ransomware” refers to a type of malware that prevents users from accessing their systems unless, and until, a ransom is paid....more

How to Respond to a Cyber Extortion Demand

by Bryan Cave on

Cyber extortion refers to a situation in which a third party threatens that if an organization does not pay money, or take a certain action, the third party will take an adverse action against the organization. Among other...more

Corporate Investigations and White Collar Defense - June 2016

Eye on the Supreme Court—Corruption and Fraud Edition - Why it matters: This session, the Supreme Court has undertaken the review of numerous cases that raise thorny issues arising in the white collar context. In our...more

Ransomware: Electronic Extortion for a Digital Era

by Butler Snow LLP on

Last month, the FBI asked the American Bar Association to share a cyberalert with its members warning of an increased risk of ransomware. Ransomware poses significant legal and operational risks to businesses. Personnel at...more

Data Privacy Considerations for Starting or Evaluating a Bounty Program

by Bryan Cave on

Data security officers typically look for security risks by monitoring reports from automated security systems, listening to employees’ reports of security issues, and/or auditing IT systems. There is a great deal of debate,...more

“Take Me Out to the Ballgame?” Asked the Inspector: Saying “Yes” May Now Be a Federal Crime

by K&L Gates LLP on

Imagine this hypothetical: A local fire marshal says to Mary Jones, who runs the residence halls at a major university, “It must be nice having seats at the Saturday football games.” Mary gets the message and thinks that if...more

The Scariest Hack So Far

Hackers have upped the ante. Data controllers wax fondly about the good old days when data was outright stolen. Back then, in 2013, there was a sense of fair play. Trolls did troll things. Assuming the victim implemented and...more

FBI’s cyber most wanted: Spotlight on Firas Dardar and Ahmed Agha

New additions to the FBI’s Cyber’s Most Wanted List show “the line between ordinary criminal hackers and potential national security threats is increasingly blurry,” according to Assistant Attorney General for National...more

Cyber prosecutions update

The feds have been busy on the cyber prosecutions front. First, on March 18, 2016, the FBI announced that a multi-agency collaborative effort blew up an identity theft ring whose leader was an inmate in a Georgia prison. The...more

Companies can insure against cyber ransom

by Reed Smith on

National Public Radio and other news outlets are reporting that a Los Angeles-area hospital recently paid a $17,000 ransom (in the form of 40 bitcoins) to hackers to unencrypt its computer networks, which had been held...more

Financial Institutions Council Publishes Statement On Hacker Extortion

by King & Spalding on

Amid the recent increase in hacker extortion cases, the Federal Financial Institutions Examination Council (“FFIEC”) issued a statement on November 3 (the “Statement”) describing steps financial institutions should take to...more

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Cybersecurity

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