News & Analysis as of July 31, 2025

Cybersecurity › Banking Sector › Hackers

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Weekly Blockchain Blog - July 2025 #3

BakerHostetler on 7/29/2025

According to a recent press release, a major U.S. bank has entered into a strategic partnership with the largest U.S. cryptocurrency exchange platform. This collaboration reportedly aims to expand access to secure digital...more

Santander Faces Major Cyber Attack Compromising Millions of Customers’ Data

HaystackID on 6/7/2024

In May, Santander Bank faced a significant cybersecurity breach that affected millions of its customers and employees worldwide. The hacking group ShinyHunters claimed responsibility for the attack, which also targeted...more

Security Snippets: New trojan Coyote

Hogan Lovells on 2/16/2024

Coyote, a new Brazilian malware, is currently hunting down credentials for sixty-one (61) different banking applications. Researchers expect the malware to spread internationally. Russian cybersecurity firm Kaspersky has...more

New FTC Rule Requires Certain Financial Institutions to Report Loss of Unencrypted Customer Data

Katten Muchin Rosenman LLP on 11/2/2023

On October 27, the Federal Trade Commission (FTC or Commission) published a final rule expanding data breach notification requirements for certain financial institutions (Final Rule). Federal Register, will require entities...more

As If Bank Failures Aren’t Enough – Hackers Are Exploiting the Chaos to Breach Security

Foley Hoag LLP - Security, Privacy and the... on 5/9/2023

The Massachusetts State Police Commonwealth Fusion Center (CFC) believes that cyber actors may use the current bank failures for future phishing and business email compromise (BEC) attacks. Cyber actors often use current...more

Financial Industry Getting Hammered with Cyber-Attacks

Robinson+Cole Data Privacy + Security Insider on 3/8/2019

Cybersecurity company Carbon Black recently issued a report of the results of a survey of chief information security officers (CISOs) of financial organizations, which showed that the financial industry is getting hammered by...more

Data Privacy + Cybersecurity Insider - Recap of the Top Read Blog Posts in 2018

Robinson & Cole LLP on 12/31/2018

New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more

Study Shows Banks Block 80% of Cyberattacks … But is that Enough?

Patterson Belknap Webb & Tyler LLP on 9/20/2018

In Accenture’s 2018 State of Cyber Resilience for Banking & Capital Markets study, the consulting firm reported the rate at which cyber-attacks on banking and capital markets firms are successful dropped from 36 percent in...more

SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

Moore & Van Allen PLLC on 9/18/2018

As cybersecurity attacks have continued to gain prominence as a threat posing critical risk management and compliance challenges for financial institutions, the Securities and Exchange Commission (SEC) has emerged as an...more

Vicious Kronos Variant Osiris Malware Recently Released and Proving Dangerous

Robinson+Cole Data Privacy + Security Insider on 9/13/2018

We all remember Kronos—the malicious malware that was sold by Russian underground forums in 2014 for $7,000. If you bought it, you were promised updates and development of new modules. ...more

Data Privacy + Cybersecurity Insider - September 2018

Robinson & Cole LLP on 9/11/2018

We reported last week that a spyware maker recently compromised users’ and victims’ sensitive information. Since that time, another spyware maker, mSpy, which holds itself out as having over a million users employing its...more

Data Privacy + Cybersecurity Insider - August 2018 #4

Robinson & Cole LLP on 8/27/2018

A new ransomware, dubbed “Ryuk,” has surfaced in the last few weeks and is said to be targeting large organizations in the United States. The attackers behind Ryuk have reportedly made more than $640,000 in just two weeks,...more

Data Privacy + Cybersecurity Insider - August 2018 #2

Robinson & Cole LLP on 8/10/2018

TCM Bank, a subsidiary of ICBA Bancard Inc., notified some 10,000 credit card applicants in the past week that their names, addresses, dates of birth, and Social Security numbers were compromised between March 2017 and the...more

Data Privacy + Cybersecurity Insider - July 2018 #4

Robinson & Cole LLP on 7/30/2018

The Federal Energy Regulatory Commission (FERC) announced on July 19, 2018, that it is directing the North American Electric Reliability Corporation (NERC) “to develop and submit modifications to the NERC Reliability...more

Data Privacy + Cybersecurity Insider - June 2018 #1

Robinson & Cole LLP on 6/12/2018

We previously reported that the FBI has warned consumers about a nasty malware, known as VPNFilter and believed to have been launched by a Russian government hacking group, which is infecting hundreds of thousands of small...more

FFIEC Members Issue Joint Statement to Financial Institutions on Role of Cyber Insurance as Risk Management Tool

Robinson+Cole Data Privacy + Security Insider on 4/24/2018

On April 10, the Federal Financial Institutions Examination Council (FFIEC) members issued a joint statement discussing cyber insurance and its potential role in the risk management programs of financial institutions. ...more

Are ATMs safe? Probably not since Black Box ATM attacks are mounting which is costing banks millions!

Foley & Lardner LLP on 4/23/2018

Bankinfosecurity.com report that “Fraudsters are now gingerly testing the waters in central and Western Europe with attacks that drain cash machines of their funds, according to a trade group that studies criminal activity...more

Data Privacy + Cybersecurity Insider - March 2018 #2

Robinson & Cole LLP on 3/9/2018

Cybersecurity Task Force Launched in Arizona - Arizona Governor Doug Ducey launched the Arizona Cybersecurity Team (ACT) by Executive Order on March 1, 2018. The ACT is comprised of 22 members representing officials from...more

Data Privacy + Cybersecurity Insider - February 2018 #4

Robinson & Cole LLP on 2/26/2018

U.S. Estimates that Cyber Hacks Cost Up to $109 Billion in 20 - The Council for Economic Advisors (CEA) issued a report this month, entitled “The Cost of Malicious Cyber Activity to the U.S. Economy,” which concludes that...more

HaoBao Malware Hitting Banks Scans for Bitcoin Activity

Robinson+Cole Data Privacy + Security Insider on 2/22/2018

Lazarus, the well-known hacking group responsible for the WannaCry ransomware attack from last year, as well as the attack on the Bangladesh Central Bank and Sony, is now targeting global financial firms and Bitcoin adopters...more

Cybersecurity Compliance for Financial Institutions

The Volkov Law Group on 1/31/2018

The New York Department of Financial Services has adopted detailed cybersecurity regulations for financial institutions. (Here). The NYDFS has filled a vacuum created by the failure of the federal government to act in this...more

Financial Stability Oversight Council identifies cybersecurity as primary area of risk for the banking industry

Ballard Spahr LLP on 12/20/2017

On December 14, the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to analyze and mitigate potential threats to the financial sector, released its first report under the Trump...more

Fintech Forecast: Lawmakers and Regulators Poised to Revamp the Legal Landscape in 2017

Bradley Arant Boult Cummings LLP on 7/6/2017

Financial technology, or fintech, is poised to be the center of U.S. regulation in 2017. Industry experts estimate that between July 2015 and January 2016, more than $5.5 billion was invested in the fintech sector. As fintech...more

Sony Cyber-Attackers Lurking at Financial Supervisor “Watering Hole” Target Banks and Others

Robinson+Cole Data Privacy + Security Insider on 2/22/2017

Cybersecurity specialists at BAE Systems and Symantec announced last week new evidence suggesting that the criminals behind the notorious 2014 attack on Sony Corp. are also responsible for recent cyber-attacks involving 104...more

The Supreme Court’s Broad Interpretation of the Bank Fraud Statute May Provide a Potent Tool in Combatting Cybercrime

Cadwalader, Wickersham & Taft LLP on 12/20/2016

The Supreme Court in Shaw v. United States recently held that the federal bank fraud statute does not require that defendants cause, or intend to cause, an actual financial loss to the financial institutions they seek to...more

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