Popular, Ransomware, Financial Services Industry

Decoded - Technology Law Insights, V 6, Issue 4, April 2025

Spilman Thomas & Battle, PLLC on 4/24/2025

Welcome to our fourth issue of 2025 of Decoded - our technology law insights e-newsletter. We hope you enjoy this issue and thank you for reading. Sector by Sector: How Data Breaches are Wrecking Bottom Lines - “Data...more

Cybersecurity Risks for Financial Services Firms: Proactive Strategies to Stay Ahead

BCLP on 1/31/2025

The 2024 CrowdStrike outage and the ransomware attack on NHS partner Synnovis hit mainstream news and highlighted the fragility of ICT supply chains and the risks posed by cyber incidents....more

CISA’s Proposed Cyber Incident Reporting Requirements Would Hit a Range of Industries and Sectors

Wiley Rein LLP on 4/1/2024

The U.S. Department of Homeland Security’s (DHS) Cybersecurity and Infrastructure Security Agency (CISA) is publishing a proposed rule (Proposal or NPRM) that will require broad segments of industry to meet onerous and quick...more

Data Breaches up 72% From Record High: Cyber Incident Readiness Must be Top of Mind

Epiq on 3/13/2024

“Protect your data! Breaches are on the rise!” These warnings seem to be everywhere – and rightfully so. Threat actors are sophisticated and new breach trends are constantly materializing. Awareness is no longer enough. It...more

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – February 2024

Alston & Bird on 2/14/2024

Selected U.S. Privacy and Cyber Updates - NYDFS Releases Circular Letter on Use of AI in Insurance Underwriting and Pricing - On January 17, 2024, the New York State Department of Financial Services (NYDFS) issued a proposed...more

NYDFS Amended Cybersecurity Rules: Overview of Upcoming Deadlines

Akin Gump Strauss Hauer & Feld LLP on 12/20/2023

On November 1, 2023, the New York Department of Financial Services (NYDFS) announced the adoption of amendments to its Cybersecurity Regulation 23 NYCRR Part 500 (“Amended Cybersecurity Rules” or “Amended Rules”). NYDFS...more

Implementation of DFS Cybersecurity Amendments Continues as Ransomware Attacks Dominate Headlines

Patterson Belknap Webb & Tyler LLP on 12/14/2023

Last month, as the New York State Department of Financial Services (“DFS”) began phasing in amended cybersecurity regulations and continued enforcement actions against noncompliant entities, a wave of ransomware attacks...more

The Digital Download – Alston & Bird’s Privacy & Data Security Newsletter – November 2023

Alston & Bird on 11/17/2023

Publications and Advisories - November 13, 2023 – Kathleen Benway, Kate Hanniford, Amy Mushahwar, Kim Peretti, and Lance Taubin published “Privacy, Cyber & Data Strategy Advisory: FTC Approved New Data Breach Notification...more

Decoded: Technology Law Insights - V 4, Issue 5, May 2023

Spilman Thomas & Battle, PLLC on 6/1/2023

Cyber Resilience Programs Falling Short on Preparing Workers for a Crisis- “At two-thirds of organizations, there is a fear that almost all employees, 95%, will not understand how to recover following a cyberattack.” ...more

Australian Financial Services Regulatory Update - August 2022

Jones Day on 8/30/2022

This edition of the Update covers: - Recent legal and regulatory developments, including the commencement of cyber security incident notification obligations for critical financial market infrastructure assets, AUSTRAC's...more

NYDFS Proposed Amendments to Its Cybersecurity Rules

BakerHostetler on 8/9/2022

On July 29, the New York Department of Financial Services (NYDFS) released Draft Amendments to its Part 500 Cybersecurity Rules that include a number of significant amendments to the rules, including notification...more

Federal Banking Regulators Issue New Guidance for Complying with 36 Hour Cybersecurity Incident Reporting Requirement

Polsinelli on 4/1/2022

On March 29, 2022, federal banking regulators issued important guidance for how banking organizations can comply with the upcoming requirement to notify regulators within 36 hours of ransomware or other disruptive...more

FinCEN Crypto & Ransomware Guidance: Will 2022 Bring More Changes?

Torres Trade Law, PLLC on 1/26/2022

The Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of the Treasury (“Treasury”) has made clear that businesses engaging in certain activities involving virtual currencies are subject to registration,...more

[Virtual Conference] McDermottTech 2021 - September 21st, 3:30 pm - 5:45 pm BST

McDermott Will & Schulte on 8/18/2021

We invite you to attend McDermottTech 2021, a virtual conference exploring the latest global trends impacting the technology industry. Please join us for this complimentary program on September 21, 2021, for the opportunity...more

NYDFS Issues Ransomware Guidance Aimed At Combatting Rising Cyber Threats

Goodwin on 7/28/2021

The exponential rise in ransomware attacks in the past year has everyone on high alert, not least of which are regulators. Following on the heels of a June 2, 2021 White House memo addressing ransomware prevention, on June...more

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - July 2021 #3

Troutman Pepper Locke on 7/20/2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Cybersecurity challenges and mitigation strategies for financial services firms

A&O Shearman on 7/13/2021

Recent industry feedback published by the UK Financial Conduct Authority shares insights on the identification and management of cybersecurity challenges and mitigation strategies for financial services firms. The feedback...more

NYDFS Issues Guidance on Cybersecurity Controls to Combat Ransomware and Clarifies Reporting Obligations

Alston & Bird on 7/6/2021

The New York Department of Financial Services (NYDFS) issued new guidance this week intended to assist organizations in thwarting ransomware attacks. The guidance clarifies the NYDFS’ expectation that NYDFS-regulated...more

SEC’s Examination Function Warns Its Registrants of Risks Associated with Dangerous Malware

Akin Gump Strauss Hauer & Feld LLP on 7/16/2020

- In the age of broad corporate teleworking brought on by COVID-19, OCIE of the SEC has observed during recent examinations that investment advisers, broker-dealers and investment companies are subject to an increased threat...more

Financial Services Weekly Roundup: Gone Phishing – The SEC’s OCIE Addresses Ransomware Attacks

Goodwin on 7/16/2020

In This Issue. The Securities and Exchange Commission (SEC) adopted amendments to its exemptive applications procedures under the Investment Company Act of 1940, as amended (the 1940 Act) and proposed to amend Form 13F to...more

[Webinar] COVID 19 Ransomware in Private Equity - Threats and Mitigation - July 1st, 4:00 pm BST

McDermott Will & Schulte on 6/29/2020

McDermott Will & Emery, in partnership with Alvarez & Marsal is hosting a tailored webinar, discussing the cyber security threats and mitigations facing private equity firms in response to the COVID-19 pandemic. One of the...more

Cybersecurity Enforcement and Regulation - 2017 In Review

Moore & Van Allen PLLC on 3/29/2018

Cyber attacks continue to be a pervasive and destructive threat to all institutions and the legal and regulatory landscape currently in place to address those threats continues be reshaped in an effort to address those...more

OCIE Releases Results of Cybersecurity Examination Initiative

Skadden, Arps, Slate, Meagher & Flom LLP on 8/31/2017

On August 7, 2017, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) released a summary of its observations (the report) from cybersecurity examinations of 75...more

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