News & Analysis as of

Distributed Denial of Service

Smart-Home Devices: The Ugly

The Ugly of Technology — Ransomware Technology is fundamentally good and helpful to us; but, like so many things in our modern world, there is the good…the bad…and the ugly. In October 2016, what might have been the largest...more

Singapore: Consultation Exercise on Draft Cybersecurity Bill

by Morgan Lewis on

The unveiling of the draft cybersecurity bill sheds light on proposed cybersecurity compliance standards and the broad, sweeping powers of Singapore’s Cyber Security Agency....more

The Internet of Things: A Trifecta of Cyber and Physical Threat Risks

by Wilson Elser on

The recent WannaCry ransomware cyberattack provided another chilling reminder of the potential disruptive power behind the Internet of Things. Even before the WannaCry attack in May 2017, a distributed-denial-of-service...more

Banks’ Boards of Directors Face New Cybersecurity Challenges

by BakerHostetler on

Banks’ boards of directors must, among other things, understand the risks associated with existing and planned IT operations, monitor risk management, and work with senior bank managers on strategic technology planning. See...more

Financial Services Report, Winter 2016

by Morrison & Foerster LLP on

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more

DHS and NIST Issue Internet of Things Cybersecurity Guidance

by Goodwin on

In an apparent effort to fight the kinds of cyberattacks like the massive distributed denial-of-service (DDoS) attack that crippled much of the American internet in October 2016, the Department of Homeland Security (DHS)...more

House Energy & Commerce Committee Holds Hearing on Security of the Internet of Things

The growing scale of cybersecurity concerns is prompting action from government leadership on the federal level. Before the Thanksgiving recess, the House’s Committee on Energy and Commerce got in on the act when two of its...more

NIST Issues Internet of Things (IoT) Guidance

Smart machines connected to the internet have become ubiquitous in our daily lives. They make up the Internet of Things (“IoT”), a vast web of interconnected iPhones and Fitbits, tablets and cameras, even baby monitors and...more

Alert: Congressional Hearings and NIST Publication Continue Focus on IoT Security

by Cooley LLP on

Two actions in the past few weeks reflect the continuing government involvement in and concern over the security of Internet of Things (IoT) devices. Attacks using connected devices have highlighted security vulnerabilities...more

The Evolving Internet of Things and Its Risks for Business Consumers

by Williams Mullen on

The recent distributed denial of service (“DDOS”) attack on domain name service provider Dyn is likely to result in greater scrutiny by regulators and lawmakers of the potential risks associated with the increasing use of the...more

Understanding the Role of Connected Devices in Recent Cyber Attacks

by Cozen O'Connor on

On November 16, 2016 the House Committee on Energy and Commerce’s Subcommittee on Commerce, Manufacturing, and Trade and the Subcommittee on Communications and Technology held a hearing on “Understanding the Role of Connected...more

The October DDoS Attack – Separating Fact from Fiction

by Baker Donelson on

Baker Donelson's Data Protection, Privacy and Cybersecurity attorneys are pleased to introduce a series of client alerts that will address significant cyber-threats to your business and how you can protect yourself by...more

Six Proposals to Stop IoT-Based DDoS Attacks

by BakerHostetler on

On Oct. 21, 2016, an extremely large distributed denial-of-service (DDoS) attack on Dyn prevented many internet users on the East Coast of the U.S. from accessing websites such as Netflix, PayPal, Spotify and Twitter for...more

FinCEN Looks to Financial Institutions to File SARs Regarding Cyber-Events

by K&L Gates LLP on

On October 25, 2016, the Financial Crimes Enforcement Network (“FinCEN”) issued an advisory (the “Advisory”) explaining the obligations a “financial institution” might have under the Bank Secrecy Act (“BSA”) regarding...more

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

by Orrick - Trust Anchor on

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

Consider Cyberliability and Network Business Interruption Insurance Coverage in Light of Recent DDoS Internet Attack

by Reed Smith on

The October 21, 2016 DDoS attack on the internet’s domain name system infrastructure underscores the need to consider cyberliability insurance coverage as a critical component of your company’s security and privacy breach...more

Alert: Internet Attacks Using IoT Devices Spur Government Calls for Improved Cybersecurity

by Cooley LLP on

The recent massive distributed denial of service (DDoS) attack that caused major internet outages was led by an army of security cameras, digital video recorders, and other Internet of Things ("IoT") devices that had been...more

When Botnets Attack: How Hackers Shut Down the Internet

by McGuireWoods LLP on

Beginning early on October 21, 2016, Dyn, a New Hampshire based internet service company, was the victim of three distributed denial of service (DDoS) attacks. The first attack began at 7am ET and was resolved within about...more

Recent indictment underscores threat to financial institutions’ cybersecurity

In an era of cyberwarfare, financial institutions can find themselves in the crossfire. The U.S. government indicted seven Iranian hackers last week, charging the individuals for their roles in a 2011 series of cyber-attacks...more

Financial Services Weekly News Roundup - June 2015 #4

by Goodwin on

Regulatory Developments - Client Alert: SEC Proposes Pay for Performance Rules: Goodwin Procter’s Capital Markets practice has issued a Client Alert on the SEC’s proposed rule that would require most public...more

FFIEC Issues Joint Statements on DDoS Cyber-Attacks and Cyber-Attacks on ATM and Card Authorization Systems

by Goodwin on

On April 2, 2014 the members of the Federal Financial Institutions Examination Council (“FFIEC”) issued two joint statements: the first joint statement regards distributed denial-of-service (“DDoS”) attacks, and the second...more

Financial Institutions Privacy and Security – 2013 Year in Review

by BakerHostetler on

Throughout 2013, financial institutions continued to face serious threats from cybercriminals targeting the personal information of banking customers and their financial assets through the use of malicious software and denial...more

Viruses, Trojans and Spyware, Oh My! The Yellow Brick Road to Coverage in the Land of Internet Oz – Part I

by K&L Gates LLP on

We’re not in e-Kansas anymore. And there’s no denying that present day internet Oz, while extraordinary, is increasingly scary. Cyber attacks of various types continue to escalate across the globe. As aptly stated by one...more

Insuring Your Company Against Cyber-Attacks

by BakerHostetler on

Earlier this month, the Department of Justice announced the indictment of 13 individuals associated with the hacker organization Anonymous for a widespread scheme to disrupt and shut down commercial and government websites....more

The Current State in Financial Services: Cybersecurity - July 2013

by Reed Smith on

In this issue: - The Current State in Financial Services Cybersecurity - Critical Infrastructure Executive Order - Cybersecurity Legislation - Financial Services Cybersecurity...more

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