News & Analysis as of

Ransomware Phishing Scams

Cyber Fraud Cost $1.4 Billion in 2017

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its yearly internet crime report, which states that over 300,000 consumers reported cyber-fraud and malware attacks in 2017,...more

AICPA Survey Shows U.S. Adults Worried About Identity Theft and Financial Fraud and Concerned Businesses Can’t Protect Their Data

A new Harris Poll for the American Institute of CPA’s (AICPA), which called 1006 U.S. adults for the report, shows interesting statistics regarding American adults’ attitudes and fears about identity theft and financial loss...more

FTC Announces Campaign to Assist Small Businesses with Strengthening Their Cybersecurity

by Weiner Brodsky Kider PC on

The FTC has been ramping up its efforts to help small businesses understand cybersecurity and learn best practices for promoting cybersecurity in their organizations. According to the FTC, cyber-attacks on small businesses...more

Ransomware Attacks for Local Governments and Public Agencies: A Primer

The recent ransomware attack on the City of Atlanta highlights the fact that the threat of ransomware affects all organizations, regardless of the nature of their industry, business, or operations, and that political...more

Washington Suburb Targeted by Cybercrime and Ransomware Attacks – Cyber News

by White and Williams LLP on

A recent report from The Seattle Times provides details on a series of social engineering and ransomware attacks successfully perpetrated on a Seattle suburb during the second half of 2017. The incidents of cyber scams...more

North Carolina Proposed Data Breach Legislation & Security Breach Report 2017

by Wilson Elser on

On January 8, 2018, the State of North Carolina released its Security Breach Report 2017, which highlights a 15 percent increase in breaches since 2016. At the same time, North Carolina introduced new legislation aimed at...more

Cyber Risk News & Trends

Cybersecurity This Month - Predictions for 2018 - The new year kicked off with leading institutions weighing in with their cybersecurity predictions for 2018. MIT predicts we will see more large-scale data breaches in...more

Privacy Tip #116 - Insider Error or Threat Continue to Cause Data Breaches

You continue to hear that your employees are your biggest risk when it comes to causing a data breach. Recent incidents that we have been involved in that were caused by employee error include...more

Data Breach Costs an Average of $3.6 Million

There have been a myriad of research studies attempting to come up with the “cost” of a data breach. The most recent, released by AT&T, estimates that it costs organizations $3.6 million to recover from a data breach....more

Beazley Publishes Special Report on 2017 Healthcare Breaches

Beazley has published a report outlining data breaches in the first nine months of 2017. The report notes that the highest cause of a data breach in 2017 so far are unintended disclosures, which accounted for 41 percent of...more

Give Your Customers the Gift of Security

by Perkins Coie on

2017 has reminded us that data security threats continue to evolve and that the stakes for companies can be very high if their data security programs fail to evolve as well. Before the recent announcement of Equifax’s...more

Cyber Crime Pays! Different Attacks Have Different Values

by Miles & Stockbridge P.C. on

Cisco’s midyear report showed that CEO fraud netted cybercrime five times more money than ransomware over the last three years. CEO fraud is a scam in which cybercriminals spoof company e-mail accounts and impersonate...more

IRS Issues Urgent Warning to Beware IRS FBI Themed Ransomware Scam

The Internal Revenue Service today warned people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage....more

Corporate E-Note - July 2017

by Burr & Forman on

Cyber threats take many forms. The widespread WannaCry ransomware attack in May of 2017 highlighted how computer files could be held hostage in return for payment, while the Dyn denial of service in October of 2016...more

Cyber Threats Equal Serious Threats

by Burr & Forman on

Every where you look these days, there seems to be another report of a cyber attack--attacks which do not discriminate based on industry type, size of business, or impact. In other words, everyone is vulnerable. In fact, the...more

Ransomware is taking the world by storm; does insurance respond?

On June 27, 2017, the world had its second major ransomware attack in two months, and experts are predicting more to come. The first, named WannaCry, began May 12, and quickly spread to over 400,000 machines, the vast...more

When Health Data Goes Missing: Largest Reported Ransomware Attack

In the aftermath of two powerful global ransomware attacks, a Michigan-based medical equipment provider has disclosed that hackers “encrypted our data files” and accessed more than 500,000 patient records in what is believed...more

OCR Issues Reminder on Security Incidents

Following the frequent and varied ransomware attacks on health care entities over the past few years, the Office for Civil Rights (OCR) published guidance last summer to the health care industry reminding it that a ransomware...more

What Lawyers Should Know To Avoid Online Scams

According to a February 2017 American Bar Association press release, “cyber-related risks have escalated based on the sensitivity and nefarious uses of that data. Last year, for example, the Manhattan U.S. attorney’s office...more

Petya Ransomware Attack Has No Kill Switch

On the heels of the WannaCry ransomware attack last month, a new ransomware variant, Petya, hit organizations around the world on Tuesday and stopped them in their tracks—including a major law firm. This keeps us up at night...more

New Tool to Detect Ransomware May Prevent a Cyber Catastrophe

by Zelle LLP on

We here in the CAT – Law pressroom occasionally come to have a dispirited world view due to our constant and laser-like focus on the topic of catastrophes. However, our Magic 8 Ball has been saying “it is most probable”...more

Post-WannaCry—US-CERT Warns of Samba Security Flaw

Following the massive WannaCry event, the mantra among security folks is push patches to vulnerabilities as soon as they are released. US-CERT issued a warning late last week that there is a newly discovered flaw,...more

$10 domain name halts spread of WannaCry ransomware

by Hogan Lovells on

A major global ransomware attack going by the name of WannaCry was recently short circuited by the registration of a single domain name costing just over $10. The unregistered domain name consisting of random characters was...more

Corporate E-Note - May 2017

by Burr & Forman on

Starting on Friday, May 12th, computers in countries around the world have fallen victim to the latest ransomware attack. As of May 15th, it is estimated that more than 150 countries have infected systems, totaling over...more

SEC Urges Investment Firms to Better Prepare for Ransomware Attacks

by Nossaman LLP on

On May 17, 2017, the SEC’s Office of Compliance Inspection and Examination (“OCIE”) issued a risk alert urging broker-dealers, investment advisors and investment companies to safeguard themselves against ransomware in light...more

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Cybersecurity

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