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BakerHostetler

Weekly Blockchain Blog - June 2024 #2

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TradFi/DeFi Integrations Announced, Yield-Bearing Stablecoin Launches - According to reports, Robinhood, a major U.S. financial services company, has entered into an agreement to acquire Bitstamp, a global cryptocurrency...more

Hinckley Allen

The 2023 Cyber Year in Review

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The Most Significant Developments in Cybersecurity and Cyber-Related Liability Risks - As we reflect upon 2023, it will unfortunately be remembered as a record-breaking year for ransomware and cybercrime....more

BakerHostetler

Crypto Market Data Published; Digital Assets RFI Issued; BIS Addresses DeFi; NY DFS Issues Crypto Guidance; SEC Brings Crypto...

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Reports Address Crypto Ownership, Stablecoins and Dapp Adoption - Recent reports provide new data on various areas of the digital asset market. In one report, a survey published by a cryptocurrency trading platform found...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

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Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

BakerHostetler

Banks and Retailers Embrace Crypto, Bitcoin Environmental Costs Debated, New NFT Initiatives Launch, Various Agencies Address...

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According to reports, a major U.S.-based global investment bank has allowed a borrower to use bitcoin as collateral for a cash loan, for the first time in the bank’s history. In other financial news, according to reports, the...more

Flaster Greenberg PC

Policyholder Best Practices As Cyberattacks Escalate

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Cyberattacks are exploding. The coronavirus pandemic has further exposed cyber vulnerabilities due to remote work and the increasing use of underprotected devices. Ransomware attacks are increasingly becoming the cyberattack...more

Hogan Lovells

NYDFS recommends critical new practices to reduce supply chain risk in wake of SolarWinds attack

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On April 27, 2021, the New York State Department of Financial Services (“DFS” or the “Department”) released a report regarding its investigation into the response by DFS covered entities to the SolarWinds supply chain attack....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2021 #5

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CYBERSECURITY - Eversource Energy Notifies Customers of Data Breach - Eversource Energy, which is the largest energy supplier in New England with 4.3 million customers in Connecticut, Massachusetts, and New...more

Robinson+Cole Data Privacy + Security Insider

NYDFS Issues Report on SolarWinds

This week, the New York State Department of Financial Services (NYDFS) issued the Report on the SolarWinds Cyber Espionage Attack and Institutions’ Response....more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2021 #4

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CYBERSECURITY - NSA Issues New Warning About Four Critical Patches to Microsoft Exchange Servers - The National Security Agency (NSA) recently issued a warning to private industry about four zero-day vulnerabilities in...more

BakerHostetler

NFT Sales Launch, Fintech Firms Launch Crypto Initiatives, NY DFS Approves Crypto Firms, CFTC and IRS Target Crypto Crimes, DeFi...

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NFTs Make Headlines, Global Payments Firm Launches Cryptocurrency Unit - Nonfungible tokens (NFTs) rule the blockchain world this week, with numerous high-profile campaigns making headlines. Digital artist Beeple sold a JPG...more

Hogan Lovells

To pay or not to pay: Another regulator weighs in on the decision to pay a ransom

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Ransomware victims face a nearly impossible decision: pay criminals holding their business hostage or refuse and face possible crippling consequences. This decision requires careful analysis of a number of considerations, and...more

Clark Hill PLC

Hackers Targeting Insurance Instant Quote Sites

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The New York Department of Financial Services issued a cybersecurity fraud alert (“Alert”) to all regulated entities, particularly those utilizing public-facing websites that display nonpublic information (“NPI”), even if...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - February 2021 #2

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Cyber-attacks and Cybersecurity Failure Are Top Risks of the Next Decade Says World Economic Forum - Although somewhat obvious, the World Economic Forum, in partnership with Marsh McLennan, SK Group and Zurich Insurance...more

Kramer Levin Naftalis & Frankel LLP

Announcing ‘Cyber Insurance Risk Framework,’ NY DFS Joins OFAC in Discouraging Carriers From Making Ransomeware Payments

Ransomware threats and attacks dominated the cyber news cycle in 2020 and into 2021. With the global pandemic and the uptick in remote work and learning, cybercriminals and nation-state hackers have seized on vulnerabilities...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2021 #3

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CYBERSECURITY - NYDFS - Cybersecurity Certificate of Compliance Due April 15, 2021 The New York Department of Financial Services (DFS), which regulates certain covered entities and licensed persons in the financial...more

Robinson+Cole Data Privacy + Security Insider

New York Department of Financial Services Issues Report on Recent Twitter Hack

You probably heard about the recent hack of Twitter accounts that took place on July 15, 2020. The hackers took over several prominent Twitter accounts, which resulted in a scam that netted over $118,000 in bitcoin for the...more

Epstein Becker & Green

Cybersecurity Lessons From The Twitter Hack As New York’s Chief Financial Services Regulator Calls For A Dedicated Cybersecurity...

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There are cybersecurity lessons to be learned from high profile data breaches and the ensuing regulatory responses. The recent well-publicized Twitter hack is no different. According to the New York State Department of...more

Hinshaw & Culbertson - Consumer Crossroads

NYS DFS Publishes its Investigative Report of the Twitter Hack of July 2020

The New York State Department of Financial Services issued a press release on Thursday announcing the publication of its investigative report of the July 2020 Twitter hack. The exhaustive report reviews the facts surrounding...more

Husch Blackwell LLP

New York’s Investigation Of Dunkin Donuts Results In A Promise To Abide By The SHIELD Act's Requirements

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Key Point: The New York Attorney General’s Office (NYAG) reached a Consent and Stipulation Agreement with Dunkin’ Brands, Inc. (Dunkin), which obligates the company to implement and maintain a comprehensive information...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - July 2020

In this month's edition, we examine the Court of Justice of the European Union's decision invalidating the EU-U.S. Privacy Shield framework, as well as the U.S. government's response to the decision. We also examine two...more

Kramer Levin Naftalis & Frankel LLP

New York DFS Warns Industry of Heightened Cyber-risks

On April 13, the New York State Department of Financial Services (DFS) issued guidance to its regulated institutions on how to manage cyber-risks connected to remote working, amid a “significant” increase in cybercrime...more

White & Case LLP

COVID-19 and Data Protection Compliance in the US

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Irrespective of your industry, the current COVID-19 pandemic poses a new and unique challenge to organizations, their employees, and their customers. The emergence of COVID-19 has prompted organizations to collect and process...more

Epstein Becker & Green

The New York State “Stop Hacks and Improve Electronic Data Security Act” (SHIELD Act) Becomes Effective March 21, 2020: Is Your...

Time is running out. The effective date of New York’s cybersecurity law mandating that organizations implement an information security program to protect “private information” of New York State residents, including employee...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - January 2020 #2

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Department of Homeland Security Warns of Cyber-Attacks by Iran - The Department of Homeland Security (DHS) issued a grave warning to U.S. businesses and critical infrastructure operators on January 6, 2020, alerting the...more

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