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Benefit Plan Sponsors › Cyber Crimes

Haynsworth Sinkler Boyd, P.A.

Can employers face liability when a cyber-attacker steals funds from an employee's individual 401(k) account?

Haynsworth Sinkler Boyd, P.A. on

Retirement plans face increased risks for cyber-attacks resulting in theft of plan assets. Few entities can keep up with the pace set by cyber-criminals for theft from accounts, and security requirements for industries...more

Groom Law Group, Chartered

Cybersecurity Requests Appear in DOL Audits

Groom Law Group, Chartered on

Plan sponsors, fiduciaries, and service providers are being asked by DOL investigators how their ERISA governed plans address cybersecurity concerns with increasing frequency. These requests may take the form of production...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

There is a cost to technology and it’s cybercrimes

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

The beauty of being in the retirement plan business since 1998 is that I love what I do and I can also remember the technological breakthroughs that allow the industry to provide a better service at a better price. The days...more

Proskauer - Employee Benefits & Executive...

U.S. Department of Labor Steps into the Cybersecurity Discussion

Proskauer - Employee Benefits & Executive... on

Formally wading into the cybersecurity discussion for the first time, on April 14, 2021, the U.S. Department of Labor (DOL) posted on its website a suite of new guidance, including Tips for Hiring a Service Provider with...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Another lawsuit concerning 401(k) theft

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Theft of 401(k) account balances by cybercriminals or other types of criminals is an actual thing and they will become more and more popular as long as third party administrators (TPAs) fail in their role and don’t use common...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Cybersecurity Considerations for Retirement Plan Sponsors

Williams Mullen on

On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Nichole Labott, managing director at SageView Advisory Group, to discuss the importance of proper cybersecurity for retirement...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Theft through cyber crime will be a bigger thing

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Theft by plan fiduciaries does happen and it’s not hard to find out who did it....more

Carlton Fields

Investment Adviser Settles SEC Charges After Data Breach

Carlton Fields on

Last week, the Securities and Exchange Commission (SEC) settled charges against a registered investment adviser for failing to comply with Rule 30(a) of Regulation S-P (17 C.F.R. § 248.30(a)) (“Safeguards Rule”). The...more

BakerHostetler

State Data Breach Notification Requirements Specifically Applicable to Insurers

BakerHostetler on

Almost all U.S. states and territories have enacted breach notification laws requiring private and/or government entities to notify individuals when their personal information is compromised....more

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