News & Analysis as of

Cyber Attacks

Banking & Financial Services E-Note - May 2018

by Burr & Forman on

Hackers are clever at exploiting weaknesses in an organization’s systems. They are also efficient. After an organization installs robust cybersecurity controls, hackers will typically look for an easier target or they will...more

The FTC Announces A National Cybersecurity Education Campaign For Small Businesses

by Jackson Lewis P.C. on

The Federal Trade Commission (FTC) recently announced that it will launch a national education campaign to aid the small business sector in strengthening its cybersecurity and protecting its sensitive and personal data. ...more

The Collapse of UN Talks on the Application of International Law in Cyberspace: Why It Matters to U.S. Businesses

by K&L Gates LLP on

It is commonly said that cyberspace is the “Wild West,” a realm where there are no laws and no sheriff in sight. Even acknowledging that this view contains a degree of hyperbole, it is unfortunately no less true after last...more

Following a cyber attack, IoT device manufacturers, data controllers, and sellers could face liability under the EU’s Product...

by Hogan Lovells on

Advancements in technology may provide consumers with a continuous stream of upgraded products, but they’re also proving that current security and privacy regulations fall short within the Internet of Things (IoT)....more

Can Cryptojacking Result in a Databreach?

by Tucker Arensberg, P.C. on

Healthcare organizations should be aware of a new method, referred to as “cryptojackng,” that hackers are using to exploit the systems and networks they infiltrate. Hackers use cryptojackng methods to siphon energy resources...more

Cyber Fraud Cost $1.4 Billion in 2017

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its yearly internet crime report, which states that over 300,000 consumers reported cyber-fraud and malware attacks in 2017,...more

Orrick's Financial Industry Week In Review

Division of Investment Management of the SEC Issues No-Action Letter to SSB - On May 8, 2018, the Chief Counsel's Office of the Division of Investment Management ("IM") of the Securities and Exchange Commission (the...more

Framework for Cyber-Attack Testing Published by ECB

On May 2, 2018, the European Central Bank (“ECB“) published the “TIBER-EU” framework, a document which outlines the process for European and national authorities to work with financial institutions to put in place a program...more

House Committee Approves Four Bills To Strengthen Energy Infrastructure Cybersecurity

by King & Spalding on

On May 9, 2018, the House Energy and Commerce Committee approved a series of legislative measures to further secure the U.S. energy infrastructure from cyberattacks. These bipartisan bills are designed to strengthen the...more

Ten Tips On Cyber Liability Insurance

by Poyner Spruill LLP on

IT, we have a problem. Reports of cybersecurity incidents continue to come in thick and fast. In November 2017, Equifax announced a mammoth data breach that it estimated would cost more than $140 million to address....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The long-standing unease between CBS and the Redstone family bubbled over into a “corporate declaration of war” yesterday, with CBS suing controlling shareholder Shari Redstone and her family’s holding company to prevent (or...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Chalk one up for big Carl (and Darwin).  Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more

What The Cryptocurrency Hacks Mean For The Security Of Blockchain

by Husch Blackwell LLP on

Blockchain technology is seeing increasingly wide use internationally, but security issues are becoming a major problem. Blockchain is a public electronic ledger that can be openly shared among users and that creates an...more

AICPA Survey Shows U.S. Adults Worried About Identity Theft and Financial Fraud and Concerned Businesses Can’t Protect Their Data

A new Harris Poll for the American Institute of CPA’s (AICPA), which called 1006 U.S. adults for the report, shows interesting statistics regarding American adults’ attitudes and fears about identity theft and financial loss...more

Chinese Telecom Companies in Hot Water

“Chinese cyber espionage and cyber-attack capabilities will continue to support China’s national security and economic priorities,” as stated by Dan Coats, the Director of National Intelligence “Americans should not buy...more

Campaigning For Protection Of Political Trade Secrets

As widely reported, on April 20, the Democratic National Committee (“DNC”) kicked off a twelve count lawsuit against a number of entities and individuals, including the Russian Federation, General Staff of the Armed Forces of...more

More Than Two Thirds of Data Breaches Take Months to Discover: Cybersecurity Trends

by CloudNine on

One of my favorite annual cybersecurity publications to read is the Verizon Data Breach Investigations Report (DBIR), which analyzes the reported cybersecurity and data breach incidents for the year. As always, this year’s...more

Yahoo Fined $35 Million for Failing to Report Data Breach

by Fisher Phillips on

On April 24, 2018, the Securities Exchange Commission (SEC) announced a $35 million fine against the company formerly known as Yahoo! Inc. (now known as Altaba, Inc.) for failing to disclose a massive cyber data breach to its...more

Bezop Cryptocurrency Investors’ Personal Information Exposed

Kromtech Security has reported that the sensitive personal information of more than 25,000 investors of Bezop cryptocurrency was exposed when a MongoDB database was left unsecured. The security incident is reported to be...more

Congress Considers Legislation To Develop A Unified Framework To Combat State-Sponsored Cyber Threats

by King & Spalding on

On Wednesday, April 18, 2018, Representative Ted Yoho (R-FL) of the United States Congress introduced legislation entitled the Cyber Deterrence and Response Act of 2018. The legislation will be considered by the House...more

Response Options For Businesses With Sensitive Data Breaches

by Womble Bond Dickinson on

Your heart raced when the caller on the phone identified himself as an FBI agent. But the conversation was matter-of-fact. About 2,500 sets of credit card information from your clients had been posted for sale on a...more

Data Privacy + Cybersecurity Insider - April 2018 #4

by Robinson & Cole LLP on

“Orangeworm” Targeting Health Care Industry - In what is being called a systematic targeting of large health care organizations, pharmaceutical companies, and IT companies and equipment manufacturers that service the...more

Public Company Cybersecurity Disclosures: The SEC Means What It Says

by Baker Donelson on

On April 24, 2018, the U.S. Securities and Exchange Commission (SEC) fined Altaba Inc. – formerly known as Yahoo – $35 million for failing to disclose a substantial data breach and cyberattack that occurred in December 2014....more

U.S. And UK Regulators Warn That Foreign Actors Will Exploit Routers For Future Cyberattacks

by King & Spalding on

On Monday, April 16, in a rare, joint announcement, the United States and British governments issued a warning regarding a state-sponsored coordinated campaign to infiltrate internet routers in preparation for future...more

Data Theft: Corporate America’s Key Assets at Risk

New study finds dramatic increases in threats and awareness of threats to knowledge assets — the confidential information that is most strategic to a company’s business — and remarkable strides by high-performing...more

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