News & Analysis as of

Office of Foreign Assets Control (OFAC) Data Protection

Mayer Brown

BIS Issues First ICTS Ban, Prohibiting Sales and Updates to Kaspersky Products and Services in the US, while OFAC Sanctions Senior...

Mayer Brown on

On June 20, 2024, the Department of Commerce's Bureau of Industry and Security (BIS) issued a Final Determination (“Determination”) prohibiting Kaspersky Lab, Inc.—the US subsidiary of the Russia-based antivirus software and...more

Ankura

Operational Implications of the New Bulk Sensitive Data Executive Order

Ankura on

On February 28, 2024, President Biden signed Executive Order 14117 (the EO), on “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern.” The United...more

Faegre Drinker Biddle & Reath LLP

U.S. Protectionism in Health Data Flows

As privacy laws continue to proliferate in the U.S. and globally, there is one trend that companies, especially those operating in the health and pharmaceutical sectors, can no longer overlook. This is the trend towards data...more

Goodwin

US Government Moves to Regulate Cross-Border Transactions Involving Sensitive Data

Goodwin on

In a sweeping, coordinated effort across federal agencies, the US government has taken a giant leap forward to prevent access to data that could be exploited to the detriment of national security. On February 28, 2024,...more

Paul Hastings LLP

Biden Administration Issues Executive Order and Announces Notice of Proposed Rulemaking Restricting “Countries of Concern” from...

Paul Hastings LLP on

On February 28, 2024, the Biden Administration issued a new “Executive Order on Preventing Access to Americans’ Bulk Sensitive Personal Data and United States Government-Related Data by Countries of Concern” (the “EO”). The...more

WilmerHale

Building Ransomware Resilience - A Proactive Strategy for Businesses and Regulators

WilmerHale on

The rise of ransomware attacks has prompted the international community to explore a range of approaches to deter these attacks, including the use of sanctions, the further development and instantiation of norms governing...more

The Volkov Law Group

Ransomware Criminal Prosecution of Russian National Underscores Pervasive Ransomware Risks

The Volkov Law Group on

In today’s world of cyber threats, many companies have fallen victim to ransomware attacks.  Corporate boards and senior executives face serious issues when their companies are attacked. The payment of ransom is not only...more

Orrick, Herrington & Sutcliffe LLP

Cybersecurity Insurance and Managing Risk: 10 Things to Know

The number of cybersecurity incidents continues to increase, with the average cost of a data breach in 2022 reaching an all-time high of $4.35 million, up from $3.86 million in 2020. In addition to the increasing number of...more

Bradley Arant Boult Cummings LLP

Cybersecurity Basics Are Key to Combating Ransomware

The onslaught of ransomware attacks by cybercriminals increases unabated every year, affecting everyone from mom and pop shops on Main Street to corporate lions of Wall Street. Hackers infiltrate an organization's computer...more

BakerHostetler

DSIR Deeper Dive into the Data: Ransomware Front and Center

BakerHostetler on

There is no question that ransomware is here to stay. Thirty-seven percent of the matters we handled last year involved ransomware, compared to 27 percent of matters in 2020. ...more

Hogan Lovells

Building a resilient tech strategy: Cyber attacks

Hogan Lovells on

Being an innovative business comes with its challenges and legal risks. In recent years, there has been a major increase in cyber attacks, and this is a real risk for every business. Aside from the cyber attack itself,...more

Fenwick & West LLP

To Pay or Not to Pay: Five Critical Approaches to Beating a Ransomware Threat

Fenwick & West LLP on

It’s the call you hope you never get. Your company has been hit with a ransomware attack. Your systems are offline. Your customer data was stolen by an unknown threat actor who is threatening to leak it. You have lots of...more

Epstein Becker & Green

Holiday Cyber Storm Warnings

Epstein Becker & Green on

Recent data thefts and systems intrusions, particularly with respect to ransomware, have assured that cybersecurity is top of mind for corporate executives and compliance officials. We at EBG have tried to keep you up to date...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - September 2021

In this month’s edition of our Privacy & Cybersecurity Update, we examine the California Privacy Protection Agency's public comment period for the California Privacy Rights Act, the U.K. government's public consultation...more

Blank Rome LLP

Data Breach Class Actions: U.S. Supreme Court Decision May Tilt the Odds in Favor of Defendant Organizations

Blank Rome LLP on

Corporate defendants besieged by proliferating bet-the-company privacy and consumer class action lawsuits recently scored a victory in the US Supreme Court with implications for data breach victims. Originally published in...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Issues Ransomware Guidance

The New York State Department of Financial Services recently announced new guidance addressing ransomware attacks, and highlighting cybersecurity measures to significantly reduce the risk of an attack. The guidance comes as...more

King & Spalding

Ransomware on the Rise in Critical Infrastructure Sector

King & Spalding on

Recent ransomware attacks against U.S. critical infrastructure, which includes the energy sector’s production of oil and natural gas, and other sources of electricity and power, have shed a spotlight on the importance of...more

Skadden, Arps, Slate, Meagher & Flom LLP

A Growing Focus on Cybersecurity

President Joe Biden has been fulfilling his promise to prioritize cybersecurity in his administration: He issued several cybersecurity-related executive orders, and federal regulators under his administration also have turned...more

Husch Blackwell LLP

New York’s DFS Publishes A Cyber Insurance Risk Framework

Husch Blackwell LLP on

Keypoint: New York’s Division of Financial Services (DFS) now requires Property and Casualty Insurers writing cyber insurance to comply with the Division’s Cyber Insurance Risk Framework to manage their risk. In her...more

Womble Bond Dickinson

Best Practices for Managing Cyber Risks in a Cyber World

Womble Bond Dickinson on

The shift to a work-from-home economy has enabled companies and employees to continue functioning during the pandemic but one unintended consequence of this overnight transition has been the increased risk of cyberattacks....more

Proskauer - The Capital Commitment

Regulatory Crackdown on Ransomware

Ransomware is a Serious and Growing Problem - In recent years, Ransomware has evolved from merely encrypting files/disabling networks in solicitation of ransom, to sophisticated attacks that often involve actual data...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - October 2020

In this month's edition of our Privacy & Cybersecurity Update, we examine the U.S. Treasury's advisories regarding the role of financial intermediaries in ransomware payments, a ruling by the Israeli data protection authority...more

Patterson Belknap Webb & Tyler LLP

Who’s On the Other Side: OFAC Releases Guidance on Ransomware Payments and Sanctions Enforcement

As we previously reported, companies across the globe increasingly have been targeted by cyber criminals during the COVID-19 pandemic.  Just last month, a major U.S. healthcare provider, United Health Services (“UHS”),...more

Faegre Drinker Biddle & Reath LLP

Ransomware Payments May Violate Sanctions Laws, U.S. Treasury Department Warns

On October 1, 2020, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to companies that pay a ransom in the wake of a cyberattack. Specifically, the advisory warned that...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Adds Iranian Bitcoin Exchangers’ Names and Wallet Addresses to SDN List, Ushers in “New Approach” to Sanctions Enforcement

• On November 28, 2018, OFAC designated two Iran-based individuals who helped exchange cryptocurrency (bitcoin) into fiat currency on behalf of alleged ransomware perpetrators who targeted U.S. businesses and municipal...more

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