News & Analysis as of May 16, 2025

Cybersecurity › U.S. Treasury

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

OCC Notifies Congress of Major Email System Security Breach

Troutman Pepper Locke on 4/11/2025

On April 8, the Office of the Comptroller of the Currency (OCC) officially notified Congress of a significant information security incident involving its email system. This notification, mandated by the Federal Information...more

New Administration Outlook: The Future of Government Payments – No More Paper Checks Later This Year

Davis Wright Tremaine LLP on 3/31/2025

New executive order mandates a general transition to electronic payments and the elimination of paper checks for federal payments, such as distributing tax refunds, Social Security benefits, veterans' benefits, and other key...more

Weekly Blockchain Blog - March 2025 #4

BakerHostetler on 3/24/2025

Digital Asset Companies Announce Strategic Acquisitions - According to a recent press release, a major U.S. cryptocurrency exchange has entered into an agreement to acquire NinjaTrader, a U.S. retail futures trading...more

FINCast Ep. 40 – 21st Century Financial Warfare: Technology, Economy, & National Security

K2 Integrity on 3/21/2025

With global economic alliances shifting and new threats emerging, will the U.S. maintain its dominance in an increasingly complex world? From cryptocurrency to chips to cyberterrorist threats, the battle for global dominance...more

DOGE Blocked from Access to Department of Treasury Payment Systems

Robinson+Cole Data Privacy + Security Insider on 2/28/2025

On February 21, 2025, a federal district court judge from the Southern District of New York issued a preliminary injunction against the Department of Government Efficiency’s (DOGE), access to Treasury Department payment...more

U.S. SDNY retains restrictions on DOGE’s access to Treasury payment systems

Orrick, Herrington & Sutcliffe LLP on 2/20/2025

Recently, the U.S. SDNY left in place a temporary restraining order that was imposed on DOGE from accessing Treasury payment systems. As previously covered by InfoBytes, the U.S. SDNY blocked DOGE temporarily from accessing...more

U.S. SDNY clarifies its temporary restraining order blocking political appointees’ access to Treasury payment systems

Orrick, Herrington & Sutcliffe LLP on 2/17/2025

On February 11, a federal judge from the U.S. SDNY granted in part and denied in part an emergency motion by DOJ contesting a temporary restraining order (TRO) granted on February 8 that restricted political appointees’...more

Looking Beyond FedRAMP – Lessons from the U.S. Treasury Cybersecurity Incident

Sheppard Mullin Richter & Hampton LLP on 1/30/2025

In the ever-evolving world of cybersecurity, even organizations that meet stringent security standards can be victims of sophisticated cyberattacks. A notable example of this is the December 8, 2024 cybersecurity incident...more

Daily Financial Regulation Update -- Friday January 17, 2025

Paul Hastings LLP on 1/17/2025

January 16, 2025- The U.S. Committee on Banking, Housing and Urban Affairs held a hearing on the nomination of Mr. Eric Scott Turner, to be Secretary, U.S. Department of Housing and Urban Development....more

OFAC Announces Sanctions Against Chinese-Based Cybersecurity Company

Alston & Bird on 1/14/2025

On January 3, 2025, the Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced sanctions on a Chinese-based cybersecurity company, Integrity Technology Group, Inc. (“Integrity Tech”). These sanctions...more

Investments in Chinese Technology Companies Limited by New US Outbound Investment Rule

Fox Rothschild LLP on 1/13/2025

U.S. investors interested in investing in advanced Chinese technology companies may now be constrained by the U.S. Government’s first-ever outbound investment rule (Final Rule) which took effect on Jan. 2, 2025. The Final...more

Treasury Highlights AI’s Potential and Risks in Financial Services

Sheppard Mullin Richter & Hampton LLP on 1/6/2025

On December 19, the U.S. Department of Treasury released a report summarizing key findings from its 2024 Request for Information (RFI) on the uses, opportunities, and risks of Artificial Intelligence (AI) in financial...more

You’ve been hit with ransomware. Think twice before you pay.

Constangy, Brooks, Smith & Prophete, LLP on 12/10/2024

You've been hit by a ransomware attack, and a cybercriminal group is demanding a cryptocurrency payment in exchange for your data's safe return. Should you pay? Deciding whether to pay a ransom is an internal business...more

How to Defend Against Identity Theft This Tax Season

J.S. Held on 12/6/2024

In recent years, identity theft cases have surged, especially during tax season. According to the Internal Revenue Service (IRS), in 2022, the federal agency identified and prevented USD 5.7 billion in tax-related fraud, and...more

Most AI National Security Regs Likely To Remain in Place Under the Next Administration

Skadden, Arps, Slate, Meagher & Flom LLP on 11/22/2024

With the rapid commercialization of artificial intelligence (AI) technology, the Biden administration has been grappling with its implications, including its potential impact on national security. Several departments have...more

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

Snell & Wilmer on 11/15/2024

We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Daily Financial Regulation Update -- Thursday November 14

Paul Hastings LLP on 11/14/2024

November 13, 2024 - Assistant Secretary for Economic Policy Eric Van Nostrand gave remarks on U.S. business investment in the post-COVID expansion. November 13, 2024 - The Office of Financial Research published a brief...more

Statute of Limitations for IEEPA and TWEA Violations Extended to 10 Years, and Additional Sanctions Developments

Paul Hastings LLP on 7/25/2024

Recent legislation, H.R. 815, the National Security Supplemental (“the Act”) – further explained by guidance issued by the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) on July 22, 2024 – has...more

Treasury Issues Draft Regulations for Outbound Investment Security Program; Comments Due August 4

Wiley Rein LLP on 7/16/2024

An August 4 deadline is fast approaching for comments to the U.S. Department of the Treasury’s Notice of Proposed Rulemaking (NPRM) that was issued June 21. The NPRM will restrict, for national security purposes, specific...more

CMS Announces 120-day Exception Period for No Surprises Act Independent Dispute Resolution

Cozen O'Connor on 7/11/2024

Under the No Surprises Act, “open negotiation” is the period of time during which payers must disclose to providers important information regarding the claim at issue. On June 14, 2024, CMS announced a 120-calendar-day...more

Energy & Sustainability Washington Update — July 2024

Mintz - Energy & Sustainability Viewpoints on 6/26/2024

Final Rules for Prevailing Wage & Registered Apprenticeships at Clean Energy Projects - The Department of the Treasury and Internal Revenue Service (IRS) recently announced final rules implementing the prevailing wage and...more

The SEC Continues Its War On Crime Victims

Allen Matkins on 6/26/2024

More than a decade ago, I expressed concern when the Securities and Exchange Commission charged Koss Corporation and one its CEO, Mr. Koss, with filing materially false financial statements after the corporation had...more

FinCEN and SEC propose Customer Identification Program requirements for investment advisers

Eversheds Sutherland (US) LLP on 5/29/2024

Earlier this month, the Financial Crimes Enforcement Network (FinCEN) continued its efforts to require registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to take steps to prevent the laundering of...more

War Aid and Sanctions: National Security Act Includes Significant New Sanctions Authorities

Morrison & Foerster LLP on 4/30/2024

On April 24, 2024, President Biden signed into law a long-debated $98 billion foreign aid and national security legislative package (the “Act”) providing funds for Israel, Taiwan, and Ukraine, and authorizing new sanctions...more

Treasury Department Warns Financial Institutions to Prepare for AI-Age Fraud — AI: The Washington Report

Mintz - Antitrust Viewpoints on 4/5/2024

Pursuant to President Biden’s October 2023 AI executive order, the US Department of Treasury (Treasury) released a report on cybersecurity risks in the financial services sector in March 2024. While recognizing the...more

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