This month’s briefing covers President Trump’s executive orders, as well as the EU Commission’s decision not to proceed with the AI Liability Directive. Meanwhile, an advocacy organization’s lawsuit alleges Meta’s ad...more
On February 21, 2025, Bybit, one of the world’s largest cryptocurrency exchanges, suffered a cyberattack resulting in the theft of approximately $1.5 billion in Ethereum tokens. This attack marked a new pinnacle in the...more
3/6/2025
/ Anti-Money Laundering ,
Compliance ,
Cryptocurrency ,
Cybersecurity ,
Data Security ,
Digital Assets ,
Economic Sanctions ,
FinCEN ,
National Security ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Privacy Laws ,
Risk Mitigation
On January 23, 2025, PayPal settled an enforcement action brought by the New York State Department of Financial Services (NY DFS) for failing to comply with cybersecurity regulations required for financial services businesses...more
2/14/2025
/ Corporate Counsel ,
Customers ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Enforcement Actions ,
Financial Services Industry ,
Hackers ,
New York ,
NYDFS ,
PayPal ,
Policy Violations ,
Regulatory Requirements ,
Risk Management ,
Sensitive Personal Information ,
Tax Forms
On February 3, 2025, the U.S. Attorney’s Office for the Eastern District of New York (EDNY) unsealed an indictment against Andean Medjedovic, a 22-year-old Canadian national, for allegedly stealing approximately $65 million...more
2/11/2025
/ Blockchain ,
Canada ,
Computer Fraud and Abuse Act (CFAA) ,
Cryptocurrency ,
Cybersecurity ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Enforcement Actions ,
Financial Crimes ,
Fraud ,
Money Laundering ,
New York
This month, the NYDFS issued guidance on cybersecurity risks tied to AI for financial services firms, focusing on risks like AI-enabled attacks and third-party dependencies; California passed a law regulating AI in health...more