News & Analysis as of

Data Breach Cybersecurity Anti-Money Laundering

Paul Hastings LLP

The Bybit Hack of 2025 — Potential Implications

Paul Hastings LLP on

On February 21, 2025, Dubai-based Bybit, one of the world’s leading cryptocurrency exchanges, suffered a massive security breach, resulting in the loss of approximately $1.5 billion in Ethereum (ETH). The incident, which is...more

Carlton Fields

FINRA Issues 2025 Annual Regulatory Oversight Report

Carlton Fields on

On January 28, 2025, FINRA issued its 2025 Annual Regulatory Oversight Report, providing a detailed look into FINRA’s current regulatory oversight of member firms and their registered personnel....more

Harris Beach Murtha PLLC

New York Sends Clear Message Crypto Exchanges and Banks Must Meet AML Obligations

New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”)...more

Robinson+Cole Data Privacy + Security Insider

White House Focused on Combating Ransomware

Ransomware attacks are frequent and escalating as we speak. Double extortion scams are hitting companies at a dizzying pace, and catching companies, large and small, off-guard. U.S. President Joseph Biden warned Russian...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Practical Guide to the Role of Directors in Fighting Ransomware

Takeaways - Boards need to take an active role overseeing cybersecurity measures. - Directors may be held personally responsible for lapses that result in attacks. - U.S. money laundering and sanctions rules may prohibit...more

Burr & Forman

Cyber Still Atop Exam Priorities

Burr & Forman on

FINRA held its bi-annual Cybersecurity Conference in January and recently published five take-away real-world experiences from the conference...more

Orrick, Herrington & Sutcliffe LLP

New Cybersecurity Reporting Requirements? FinCEN Advisory Identifies Cybersecurity Events for Financial Institutions to Report

Last week, FinCEN (Financial Crimes Enforcement Network) issued a formal Advisory to Financial Institutions and published FAQs outlining specific cybersecurity events that should be reported through Suspicious Activity...more

Morrison & Foerster LLP

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

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