Ransomware attacks are hitting record highs in 2024 and show no sign of slowing down as new criminal groups enter the scene and employ a variety of evolving tactics. This post identifies key highlights of ransomware activity...more
A recent joint advisory from the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI) and the Department of Defense Cyber Crime Center (DC3) warns of increased collaboration...more
On August 21, 2024, the United States Cybersecurity and Infrastructure Security agency, alongside government agencies in key global allies, including Australia, the UK, Canada, and Japan, released guidance on event logging...more
On June 13, 2024, the Cybersecurity and Infrastructure Security Agency (CISA) collaborated with the Joint Cyber Defense Collaborative (JCDC) to hold the federal government’s first tabletop exercise for “AI security...more
On June 24, 2024, the Division of Corporation Finance (“Corp Fin”) of the Securities and Exchange Commission (“SEC”) issued five new Compliance and Disclosure Interpretations (“C&DIs”) related to the disclosure of “material”...more
7/11/2024
/ Corporate Governance ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure Requirements ,
Form 8-K ,
Publicly-Traded Companies ,
Ransomware ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On May 7, 2024, the United States unsealed an indictment against Dmitry Yuryevich Khoroshev, one of the leaders of the Russian-based ransomware group LockBit, for his alleged involvement in developing and distributing the...more
New regulations continue to push boards in the direction of active engagement in their cyber oversight role, including breach response. But, how can boards strike the right balance in their oversight role during a significant...more
Threat actors are evolving. Our Privacy, Cyber & Data Strategy Team explains how ransomware gangs have changed their tactics and how companies can respond to the threat while navigating new scrutiny from investors and...more
2/26/2024
/ Corporate Counsel ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Data Theft ,
NYDFS ,
Popular ,
Ransomware ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC)
Recently, there has been a surge in alerts and warnings concerning cyberattacks by People’s Republic of China (PRC) state-sponsored threat actors on U.S. critical infrastructure. On February 7, 2024, the Federal Bureau of...more
On January 24, 2024, the U.K.’s National Cyber Security Centre (NCSC) released a new report, The near-term impact of AI on the cyber threat, detailing how Artificial Intelligence (AI) will impact the effectiveness of cyber...more
On December 19, 2023, the Justice Department (“DOJ”) announced a disruption campaign against the Blackcat ransomware group. In the same press release, they also stated that the Federal Bureau of Investigation (“FBI”) had...more
The Federal Bureau of Investigation (FBI) issued a Private Industry Notification on September 27, 2023, highlighting two concerning ransomware trends and providing companies with guidance on mitigating potential threat actor...more
According to recent media reports there have been several instances of blockchain bridges being hacked this year, including reports on August 2 that a bridge lost close to $200 million to upwards of 40 hackers who exploited a...more
Selected Developments in U.S. Law - U.S. Department of Commerce Announces the Establishment of a Global CBPR Forum On April 21, 2022, Canada, Japan, South Korea, the Philippines, Singapore, Taiwan, and the United States...more
5/11/2022
/ California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Cyber Attacks ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Digital Assets ,
Fraud ,
Personal Information ,
Popular ,
Privacy Laws ,
Ransomware
On March 1, the Senate unanimously passed the Strengthening American Cybersecurity Act of 2022, which will require critical infrastructure companies to report significant cyber-incidents and all ransom payments to the...more
3/18/2022
/ Biden Administration ,
Covered Entities ,
Critical Infrastructure Sectors ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
New Legislation ,
Notice and Comment ,
Proposed Rules ,
Ransomware
The Strengthening American Cybersecurity Act of 2022, a bill that narrowly failed to become law last year, was passed in the Senate on Tuesday, March 1 as a package of cybersecurity measures that would require operators of...more
3/4/2022
/ Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Data Breach ,
Data Breach Plans ,
Data Privacy ,
Data Protection ,
Data Security ,
Popular ,
Reporting Requirements
On February 9, 2022 the United States, United Kingdom, and Australia issued a joint Cybersecurity Advisory on the “Increased Globalized Threat of Ransomware” against critical infrastructure sectors (“Advisory”). The Advisory...more
Russia’s Federal Security Service (“FSB”) issued a press release on January 14, 2022 claiming that it dismantled the REvil ransomware gang by arresting 14 suspected members and seizing computer equipment, luxury vehicles,...more
On January 16, 2022, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) released a warning regarding destructive malware targeting Ukrainian organizations, including Ukrainian...more
Ransom demands from cyber-attacks show no signs of slowing down, and the costs—both from ransom payments and repairing the damage—are rising precipitously. Our Privacy, Cyber & Data Strategy Team outlines six ways companies...more
The New York Department of Financial Services (NYDFS) issued new guidance this week intended to assist organizations in thwarting ransomware attacks. The guidance clarifies the NYDFS’ expectation that NYDFS-regulated...more
Companies face increasingly tough decision points in preparing for and responding to the proliferation of ransomware attacks. Our Privacy, Cyber & Data Strategy Group outlines seven issues for general counsel to consider as...more
Selected Developments in U.S. Law - NYDFS Issues Report on the SolarWinds Attack and Covered Entities’ Responses Following the SolarWinds cyber espionage attack and the resulting focus on supply chain risk, the New York...more
5/14/2021
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Security ,
FBI ,
NYDFS ,
Phishing Scams ,
Popular ,
Ransomware ,
Safe Harbors ,
Settlement ,
SolarWinds ,
Supply Chain
Our Privacy, Cyber & Data Strategy Team delves into how a federal court decided that a data breach forensic report was discoverable despite efforts to protect it under attorney-client privilege and work product protections...more
Cybersecurity incidents—including second wave attacks—are on the rise. Our Privacy, Cyber & Data Strategy Team outlines seven tips for managing a cybersecurity incident—and recovering with strength....more