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2017 Year in Review: Data Breaches

The year 2017 saw the number of data breaches grow, and the trend is expected to continue and intensify. From Yahoo’s announcement that three billion of its user accounts were compromised to the Equifax breach and resulting...more

SEC Cyber Unit Increases Efforts to Regulate Crypto-Currency

by Nossaman LLP on

Based on how 2017 ended, entities and individuals in the crypto-currency markets should expect increased scrutiny from the United States Securities and Exchange Commission (“SEC”) in 2018. The SEC’s Cyber Unit commenced its...more

Equifax Must Turn Over NY Breach Data This Week

New York State regulators won’t be letting Equifax, Inc. off-the-hook any time soon for last year’s massive data breach that affected more than 145 million Americans....more

2018 NDAA Analysis: Signals Towards the Federal Government’s Growing Interest in Blockchain Technology

by Holland & Knight LLP on

This is the seventh blog post in a series analyzing the current draft of the 2018 National Defense Authorization Act (NDAA) as signed into law on December 12, 2017. Stay tuned for more blog posts covering additional topics in...more

New York DFS Cybersecurity Regulation Update: Lots Left To Do

by Locke Lord LLP on

Insurers and producers, banks, lenders and others licensed by the New York Department of Financial Services (DFS) have already had to comply with several of the requirements of the new DFS Cybersecurity Regulation, but for...more

MDL Litigation: Class and Complex Cases to Watch in 2018

by Carlton Fields on

The Judicial Panel for Multidistrict Litigation (“MDL Panel” or “Panel”) has transferred 97 putative class actions relating to the Equifax data breach to the Northern District of Georgia, where Equifax is headquartered. Judge...more

Cybersecurity 2018 – The Year in Preview: Cryptocurrencies and Blockchain

Editors’ Note: This is the last in a nine-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Cybersecurity Risks to Employee Benefit Plans - Are You Prepared?

by Foley & Lardner LLP on

Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more

Financial Stability Oversight Council identifies cybersecurity as primary area of risk for the banking industry

by Ballard Spahr LLP on

On December 14, the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to analyze and mitigate potential threats to the financial sector, released its first report under the Trump...more

Cybersecurity 2018 – The Year in Preview: International Law and Cyber Warfare

Editors’ Note: This is the seventh in a multi-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Cybersecurity 2018 – The Year in Preview: Financial Institutions and the SEC

Editors’ Note: This is the eighth in a multi-part end-of-year series examining important trends in data privacy and cybersecurity during the coming year. Previous installments include analyses of HIPAA compliance, emerging...more

Early Adopter—Vanguard Announces Plan to Utilize Blockchain Technology

Top mutual fund firm The Vanguard Group, Inc. unveiled a plan last week to incorporate blockchain smart contract technology into some of its indexing operations beginning early next year. Vanguard’s initiative will be carried...more

Banks Find Success Suing Over Data Breaches

Banks continue to file suit against retailers, hoping to shift the costs of data breaches, with some recent success. What happened - In January 2016, hackers accessed Eddie Bauer’s point-of-sale register system and...more

$64 Million in Bitcoin Stolen from NiceHash

Many are lamenting not purchasing bitcoin now that its value has skyrocketed. Yesterday, Massachusetts Secretary of State William Galvin warned investors to stay away from investing in bitcoin, as he considers it a financial...more

Cybersecurity Guidance on SEC Horizon

In a push for increased cybersecurity vigilance, the Securities and Exchange Commission indicated its plans to amend existing data security guidance, including the reporting of data breaches....more

Insurance Commissions Approve Data Security Model Law

The National Association of Insurance Commissioners (NAIC) has approved its draft of the Insurance Data Security Model Law (Model Law) via a meeting of its Executive and Plenary Committees. This important development follows...more

Senators Re-Introduce Bill Requiring 30-Day Notification of Company Data Breaches

As we near the end of a year that has seen more than its share of massive data breaches, two bills have been introduced (one re-introduced) in the U.S. Senate....more

Cybersecurity lapses could cost Title IV eligibility for higher ed

by Thompson Coburn LLP on

Data security breaches are an unfortunate reality for almost all businesses in today’s information-driven marketplace. From Target, to Home Depot, to Equifax, data breaches are increasingly common and potentially devastating...more

Data Privacy + Cybersecurity Insider - December 2017

by Robinson & Cole LLP on

The Consumer Financial Protection Bureau (CFPB), one of the watchdogs of the financial services industry, has announced through Acting Director Mick Mulvaney that it will no longer collect personal information of consumers...more

At the End of Your Tether: Addressing, Responding to and Insuring Cryptocurrency Theft

by Reed Smith on

On November 20-21, 2017, Tether, the company behind USDT – a digital token backed by fiat currencies like the dollar and euro – disclosed that a hack resulted in the loss of $30.95 million worth of tokens. Tether posted an...more

Despite Equifax Breach Causes, Social Engineering Still Biggest Threat to Data Security

by LeClairRyan on

It’s now been widely reported that the cause of the recent Equifax data breach, which compromised the personal data of perhaps as many as 143 million people, was the result of the company’s alleged failure to apply a patch to...more

Compliance With New York’s Cybersecurity Regulation 23 NYCRR Part 500

On March 1, 2017, New York’s Cybersecurity Regulation (23 NYCRR Part 500) became effective. The regulation is the first of its kind in the nation and requires certain companies, including banks, insurance companies and other...more

FCC targets fraudulent robocalls with new call blocking rules

by Ballard Spahr LLP on

The FCC has issued a Report and Order and Further Notice of Proposed Rulemaking (Order) adopting new rules to allow voice service providers to proactively block calls from certain numbers that are suspected to be fraudulent....more

Data Privacy + Cybersecurity Insider - November 2017 #4

by Robinson & Cole LLP on

Intel has confirmed it has a bug in its remote server management tool. The tool, known as Management Engine, permits administrators of IT systems to access devices remotely to apply updates or troubleshoot problems for users....more

Hacker Steals $31 Million of Tether Cryptocurrency

Virtual currency exchanges are popping up at breakneck speed. Tether, which operates USDT, a cryptocurrency that is backed up with the U.S. dollar, announced that almost $31 million of its USDT was stolen from its core...more

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Cybersecurity

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