News & Analysis as of

Risk Management Cyber Attacks Fraud

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #441 – Identity Theft Statistics Increasing in 2025

Unfortunately, identity theft continues to increase, and according to Identitytheft.org, the statistics are going to get worse in 2025. Some of the statistics cited by Identitytheft.org include: 1.4 million complaints of...more

Clark Hill PLC

Clark Hill 2025 Commercial Real Estate Outlook: The Number One Cybersecurity Threat Facing the Real Estate Sector

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When we talk to clients about cybersecurity, it tends to conjure up images of ransomware, systems that are encrypted and inaccessible, and stolen data. For the real estate sector, ransomware isn’t the largest cybersecurity...more

Holland & Knight LLP

Sophisticated Crypto Theft Targeting High-Net-Worth Individuals

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A recent court case has unveiled a new level of sophistication in attacks targeting high-net-worth cryptocurrency holders. In a meticulously orchestrated scheme, hackers managed to steal more than $40 million in bitcoin from...more

Bennett Jones LLP

Don’t Be the Next Victim of a BEC Scam

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Businesses are increasingly defrauded through common scams known as business email compromise scams (BEC scams) for which they do not have insurance to cover the resulting losses. Fortunately, there are easy-to-implement...more

Zelle  LLP

Further Clarity Regarding Coverage for Funds Transfer Fraud

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At this point, your IT department has almost certainly warned you to approach your e-mail inbox with skepticism--for good reason. Cybercriminals regularly and effectively impersonate our legitimate contacts for illegitimate...more

Orrick, Herrington & Sutcliffe LLP

Cyber Threats in Public Finance: Protecting Transactions from Wire Fraud

A recent cyberattack on a Michigan township has exposed weaknesses in the bond-closing process. In this incident, hackers stole over $25 million in bond proceeds by using spoofed email addresses to provide fraudulent wire...more

Foley & Lardner LLP

National Public Data Hack Exposes Millions: Essential Steps to Safeguard Your Identity and Combat Fraud

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The recent massive data breach at National Public Data (NPD), a background check company, has potentially compromised the personal information of millions, if not billions, of individuals, including their Social Security...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #393 – Phishing, Smishing, Vishing and Qrishing Schemes Continue to Dupe Users

The recent increase in smishing and vishing schemes is prompting me to remind readers of schemes designed to trick users into providing credentials to perpetrate fraud. We have previously written on phishing, smishing,...more

Mintz - Antitrust Viewpoints

Treasury Department Warns Financial Institutions to Prepare for AI-Age Fraud — AI: The Washington Report

Pursuant to President Biden’s October 2023 AI executive order, the US Department of Treasury (Treasury) released a report on cybersecurity risks in the financial services sector in March 2024. While recognizing the...more

J.S. Held

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

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The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

BCLP

SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO

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On October 30, 2023, the SEC filed charges against SolarWinds Corp. and its chief information security officer (CISO), alleging: ..Failures to disclose known cybersecurity vulnerabilities affecting the company’s “crown...more

BakerHostetler

Deeper Dive into the Data

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Every year, BakerHostetler collects and analyzes various metrics about the incident response matters we handle. In 2022, we handled over 1,160 incidents. The most striking trends we saw across those incidents were an overall...more

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with the...more

Ankura

When Did You Last Test Your Cyber Incident Response Plan?

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A cyber incident response plan is a set of guidelines and protocols designed to help an organization detect, respond, contain, and manage any form of a cybersecurity breach. It outlines how best to safeguard the organization...more

Dorsey & Whitney LLP

Forestall Phishing Forays with Sophisticated Domain Name Watching

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With the holiday season upon us and online goods and services flying off the virtual shelves, companies should not lose sight of the increased risk of phishing and cyberattacks. Society’s reliance on online commerce means...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Nonprofit Sector Compliance Conference - May 25th, 8:55 am - 3:30 pm CDT

Make sure you’re fully equipped to manage compliance risks in the nonprofit sector - Nonprofit organizations are exposed to a diverse universe of compliance risks, including many that are unique to the nonprofit sector....more

Bennett Jones LLP

Business Email Compromise: Protect Your Company From This Common Scam

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Between 2016 and 2019, Business Email Compromise (BEC) scams cost American organizations US$3.1 billion in losses and Canadian organizations US$33.6 million. This type of pervasive scam targets large and small businesses...more

Ballard Spahr LLP

SEC Special Report: Rampant Business Email Compromises Require Reassessment of Internal Accounting Controls

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The U.S. Securities and Exchange Commission (SEC) has joined the government chorus in sounding the alarm about the rapid rise in "business email compromises" that are victimizing organizations across industry sectors....more

Robins Kaplan LLP

Lessons from the Wells Fargo Scandal

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Financial institutions must meet standards for safeguarding customer data given the particularly sensitive information they hold, and regulators have been stepping up their efforts to provide guidance on just how they must do...more

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