The decision to pay millions to a cyber criminal has never been easy, but it is now even more complex. The U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory on September 21,...more
On April 27, 2021, the New York State Department of Financial Services (“DFS” or the “Department”) released a report regarding its investigation into the response by DFS covered entities to the SolarWinds supply chain attack....more
5/5/2021
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Hackers ,
Incident Response Plans ,
Information Technology ,
NYDFS ,
Russia ,
Software ,
SolarWinds ,
Supply Chain ,
Third-Party Service Provider
Ransomware victims face a nearly impossible decision: pay criminals holding their business hostage or refuse and face possible crippling consequences. This decision requires careful analysis of a number of considerations, and...more
2/25/2021
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Hackers ,
Incident Response Plans ,
Information Technology ,
New Guidance ,
NYDFS ,
Personally Identifiable Information ,
Popular ,
Ransomware
In response to the significant rise in ransomware attacks since the start of the COVID-19 pandemic and just in time for Cybersecurity Awareness Month, the Department of the Treasury’s Financial Crimes Enforcement Network...more
10/6/2020
/ AML/CFT ,
BSA/AML ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Economic Sanctions ,
Financial Institutions ,
Financial Transactions ,
FinCEN ,
Money Services Business ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Privacy Concerns ,
Ransomware ,
Suspicious Activity Reports (SARs)
Using a hypothetical case study, revealed in a series of short animations, Hogan Lovells partners Philip Parish, Arwen Handley, Nicola Fulford and Peter Marta considered topics such as good cyber incident preparedness, board...more
3/16/2020
/ Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Financial Services Industry ,
Hackers ,
Incident Response Plans ,
Insider Trading ,
Personally Identifiable Information
In a legislative environment charitably described as challenging, the fact that the Senate recently passed cybersecurity legislation by unanimous consent is noteworthy and highlights the bipartisan nature of this issue. The...more