In today’s world, cybersecurity breaches and threats are pervasive concerns for any business entity, without exception. Working from home arrangements due to COVID-19 constraints only magnify the risk and create further vulnerabilities for companies. Companies should be aware of (1) the key cyber threats they face, (2) the consequences of a breach, and (3) the … Continue Reading
Privacy and cybersecurity remain top priorities for regulators and companies alike, as the threats posed by large-scale data breaches and other cyber incidents show no signs of waning. Companies and their counsel must monitor privacy and data security-related enforcement trends, new laws and regulations, and key emerging issues to mitigate risks and minimize potential liability. … Continue Reading
With the spread of the novel coronavirus (COVID-19), cybersecurity criminals and scammers are ramping up their efforts to target vulnerable employers and workforces. The FTC announced today that since January they have received more than 7,800 fraud complaints from consumers related to the COVID-19 pandemic. But the FTC isn’t slowing down either. Even with the … Continue Reading
In November 2017, New York Attorney General Eric Schneiderman introduced the Stop Hacks and Improve Electronic Data Security (SHIELD) Act (the “Act”) in the state’s Legislature. Companies – big and small – that collect information from New York residents should take note, as the Act could mean increased compliance costs, as well as potential enforcement actions for those that … Continue Reading
On February 21, 2018, the Securities and Exchange Commission (SEC) issued an interpretive Commission Statement and Guidance on Public Company Cybersecurity Disclosures (the “Guidance”) to assist public companies in meeting their cybersecurity disclosure requirements under the federal securities laws. The Guidance notes that, as reliance on networked systems and the Internet have increased, so too have the risks … Continue Reading
In February of 2013, President Obama signed an executive order with the purpose of creating a cybersecurity framework (or set of voluntary standards and procedures) to encourage private companies that operate critical infrastructure to take steps to reduce their cyber risk (see our blog here). Critical Infrastructure Systems such as the electric grid, drinking water, … Continue Reading
The simultaneous denial of service attacks on the three largest U.S. banks which occurred two weeks ago were reported to have originated in Iran. After years of stealth cyber attacks on American interests, U.S. intelligence officials recently publicly accused China of cyber espionage of American high-tech data for their own economic gain. The head of … Continue Reading
The Sixth Circuit Court of Appeals recently held that a computer fraud rider to a "Blanket Crime Policy" covers losses from a hacker's theft of customer credit card and checking account data.
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“Who Do You Trust” was a 1950’s game show that required players to decide whether they could rely upon the information provided by their partners to win cash prizes of $25, $50 and $75. In today’s increasingly networked environment, there’s a lot more at risk in trusting another’s information about cybersecurity. Corporations and industries complain … Continue Reading
