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BakerHostetler

Weekly Blockchain Blog - March 2025 #5

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In a recent press release, Custodial Bank and Vantage Bank announced “America’s first bank-issued stablecoin on a permissionless blockchain.” According to the press release, “[t]he banks collaborated on the mint, transfer and...more

BakerHostetler

Weekly Blockchain Blog - February 2025 #3

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New Blockchain Networks, Applications and Integrations Launch - The software company that developed the protocol for the world’s largest decentralized exchange (DEX) recently announced the launch of Unichain, an Ethereum...more

BakerHostetler

Weekly Blockchain Blog - December 2024

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New Crypto Products Announced by Financial Services Firms, Exchanges, DEXs - A major U.S. cryptocurrency exchange recently announced that it has integrated a major mobile payments application into its Onramp tool to enable...more

BakerHostetler

Weekly Blockchain Blog - September 2024 #2

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According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more

BakerHostetler

Weekly Blockchain Blog with Client Alert - August 2024 #2

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Crypto Offerings Launch by Major Investment Bank, Asset Manager and Insurer - According to a recent report, a major multinational investment bank and financial services firm is now allowing its investment advisors to pitch...more

BakerHostetler

Crypto Financial Products Announced, MIT Seeks to Improve Bitcoin Codebase, SEC Addresses Digital Assets, DeFi Hacks Continue,...

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Crypto Firms Launch New Services, MIT Seeks to Improve Bitcoin Codebase - A San Francisco-based cryptocurrency custody firm successfully completed an $80 million funding round, following its recent procurement of a federal...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - Recap of the Top Read Blog Posts in 2018

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New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more

Patterson Belknap Webb & Tyler LLP

Study Shows Banks Block 80% of Cyberattacks … But is that Enough?

In Accenture’s 2018 State of Cyber Resilience for Banking & Capital Markets study, the consulting firm reported the rate at which cyber-attacks on banking and capital markets firms are successful dropped from 36 percent in...more

Moore & Van Allen PLLC

SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

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As cybersecurity attacks have continued to gain prominence as a threat posing critical risk management and compliance challenges for financial institutions, the Securities and Exchange Commission (SEC) has emerged as an...more

Robinson+Cole Data Privacy + Security Insider

Vicious Kronos Variant Osiris Malware Recently Released and Proving Dangerous

We all remember Kronos—the malicious malware that was sold by Russian underground forums in 2014 for $7,000. If you bought it, you were promised updates and development of new modules. ...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - September 2018

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We reported last week that a spyware maker recently compromised users’ and victims’ sensitive information. Since that time, another spyware maker, mSpy, which holds itself out as having over a million users employing its...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - August 2018 #4

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A new ransomware, dubbed “Ryuk,” has surfaced in the last few weeks and is said to be targeting large organizations in the United States. The attackers behind Ryuk have reportedly made more than $640,000 in just two weeks,...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - July 2018 #4

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The Federal Energy Regulatory Commission (FERC) announced on July 19, 2018, that it is directing the North American Electric Reliability Corporation (NERC) “to develop and submit modifications to the NERC Reliability...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - June 2018 #1

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We previously reported that the FBI has warned consumers about a nasty malware, known as VPNFilter and believed to have been launched by a Russian government hacking group, which is infecting hundreds of thousands of small...more

Robinson+Cole Data Privacy + Security Insider

FFIEC Members Issue Joint Statement to Financial Institutions on Role of Cyber Insurance as Risk Management Tool

On April 10, the Federal Financial Institutions Examination Council (FFIEC) members issued a joint statement discussing cyber insurance and its potential role in the risk management programs of financial institutions. ...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - March 2018 #2

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Cybersecurity Task Force Launched in Arizona - Arizona Governor Doug Ducey launched the Arizona Cybersecurity Team (ACT) by Executive Order on March 1, 2018. The ACT is comprised of 22 members representing officials from...more

Robinson+Cole Data Privacy + Security Insider

HaoBao Malware Hitting Banks Scans for Bitcoin Activity

Lazarus, the well-known hacking group responsible for the WannaCry ransomware attack from last year, as well as the attack on the Bangladesh Central Bank and Sony, is now targeting global financial firms and Bitcoin adopters...more

The Volkov Law Group

Cybersecurity Compliance for Financial Institutions

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The New York Department of Financial Services has adopted detailed cybersecurity regulations for financial institutions. (Here). The NYDFS has filled a vacuum created by the failure of the federal government to act in this...more

Ballard Spahr LLP

Financial Stability Oversight Council identifies cybersecurity as primary area of risk for the banking industry

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On December 14, the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to analyze and mitigate potential threats to the financial sector, released its first report under the Trump...more

Bradley Arant Boult Cummings LLP

Fintech Forecast: Lawmakers and Regulators Poised to Revamp the Legal Landscape in 2017

Financial technology, or fintech, is poised to be the center of U.S. regulation in 2017. Industry experts estimate that between July 2015 and January 2016, more than $5.5 billion was invested in the fintech sector. As fintech...more

Robinson+Cole Data Privacy + Security Insider

SWIFT Shores Up Network Security With Real Time Cybersecurity Tools

In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more

Robinson+Cole Data Privacy + Security Insider

Sony Cyber-Attackers Lurking at Financial Supervisor “Watering Hole” Target Banks and Others

Cybersecurity specialists at BAE Systems and Symantec announced last week new evidence suggesting that the criminals behind the notorious 2014 attack on Sony Corp. are also responsible for recent cyber-attacks involving 104...more

Cadwalader, Wickersham & Taft LLP

The Supreme Court’s Broad Interpretation of the Bank Fraud Statute May Provide a Potent Tool in Combatting Cybercrime

The Supreme Court in Shaw v. United States recently held that the federal bank fraud statute does not require that defendants cause, or intend to cause, an actual financial loss to the financial institutions they seek to...more

Ballard Spahr LLP

CFPB Management Challenges Include Information Security

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On September 29th, the Office of the Inspector General (OIG) that oversees the CFPB released a memorandum detailing the major management challenges facing the CFPB.  The memo identified four areas of improvement that, unless...more

Neal, Gerber & Eisenberg LLP

Does Your Company Have Coverage for PCI Fines & Penalties in its Cyber Policy?

Payment Card Industry fines and penalties are fines charged by payment card brands like Mastercard and Visa to merchants’ acquiring banks for violation of their industry rules and regulations, which often occurs when there is...more

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