News & Analysis as of

Ransomware Financial Services Industry

Paul Hastings LLP

NYDFS Urges Covered Entities to Review Security Practices Amidst World Turmoil

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Citing “escalating global conflict,” the New York Department of Financial Services issued an alert on Monday, June 22, 2025, to its regulated covered entities, urging them to be vigilant against potential security threats,...more

Clark Hill PLC

Right To Know - June 2025, Vol. 30

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Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed. State Action: North Dakota Passes Law...more

Spilman Thomas & Battle, PLLC

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

HaystackID

Rising Cyber Threats in Europe’s Financial Sector: An ENISA Overview

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Between January 2023 and June 2024, cyber threats targeting Europe’s financial sector escalated, posing risks to banks, financial service providers, and regulatory bodies. According to the ENISA Threat Landscape: Finance...more

BCLP

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

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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

Orrick, Herrington & Sutcliffe LLP

OIG satisfied with CFPB information security program, provides recommendations

On October 31, OIG for the Fed and the CFPB published its 2024 Audit of the CFPB’s Information Security Program, reporting that the CFPB’s information security program operates effectively at a level-4 (managed and...more

Constangy, Brooks, Smith & Prophete, LLP

NY-licensed financial services companies must harden incident response plans, improve breach readiness by November 1

New York’s Cybersecurity Regulation continues its phased roll-out on November 1, when licensed financial services companies face a host of new requirements aimed at bolstering breach readiness and improving their ability to...more

Saul Ewing LLP

Public Companies Quarterly Update (Q2 2024)

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Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to...more

Troutman Pepper Locke

Monumental Win in Data Breach Class Action: A Case Study — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partners Ron Raether and Tim St. George to discuss a landmark victory in a major data breach class action multidistrict litigation. The team delves...more

ArentFox Schiff

Newly Proposed Rule Expanding Cyber Incident Reporting to Affect Financial Services Companies

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Recently, the US Department of Homeland Security’s (DHS) Cybersecurity & Infrastructure Security Agency (CISA) issued a notice of proposed rulemaking (NPRM) which, if adopted, would require “covered entities” of critical...more

Mayer Brown

Cybersecurity Regulations on the March

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Join us on the latest episode of Financial Services Focus as Justin Herring, Jeff Taft and Ana Bruder discuss key cyber threats facing the financial services industry, including third-party risks, sophisticated ransomware,...more

Wiley Rein LLP

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

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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

Epiq

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

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“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

Alston & Bird

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

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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

Akin Gump Strauss Hauer & Feld LLP

NYDFS Amended Cybersecurity Rules: Overview of Upcoming Deadlines

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

Patterson Belknap Webb & Tyler LLP

Implementation of DFS Cybersecurity Amendments Continues as Ransomware Attacks Dominate Headlines

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

Alston & Bird

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

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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

BakerHostetler

NYDFS Significantly Amends Cybersecurity Regulation

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The New York State Department of Financial Services (NYDFS) adopted comprehensive amendments to its cybersecurity regulation on Nov. 1, 2023. The amended regulation, including the notification provisions of §500.17, goes into...more

Akerman LLP

Explainer Things: Episode 9

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Fall is finally in the air as temperatures drop (in some parts of the country, at least) and football season is in full swing. We’ve previously avoided writing about football because our Explainer Things cast can’t agree on...more

Troutman Pepper Locke

OCC Identifies Liquidity, Operational, Credit and Compliance Risks as Key Themes in Semiannual Report

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On June 14, the Office of the Comptroller of the Currency (OCC) published the spring edition of its Semiannual Risk Perspective, which discusses key issues facing banks. The good news is that the federal banking system saw...more

Spilman Thomas & Battle, PLLC

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

Jones Day

Australian Financial Services Regulatory Update - August 2022

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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

BakerHostetler

NYDFS Proposed Amendments to Its Cybersecurity Rules

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​​​​​​​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

Harris Beach Murtha PLLC

Division Y-Cyber Incident Report for Critical Infrastructure Act of 2022 Becomes Law, with Regulations Expected by 2025

Division Y – Cyber Incident Reporting for Critical Infrastructure Act of 2022 was signed into law by President Biden on March 15. Highlights of the Act include: ...more

Polsinelli

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

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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

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