The global cyber scourge continues— Hong Kong Monetary Authority alerts banks on recent cyber security incidents
Posted on Jun 13, 2019 in Cybersecurity, Data Privacy, Regulation | Comments Off on The global cyber scourge continues— Hong Kong Monetary Authority alerts banks on recent cyber security incidents
On May 24, 2019, the Hong Kong Monetary Authority (HKMA) issued an alert regarding eight cyber security incidents involving a total sum of HK$70,000 (Alert). While not necessarily a lot of money, it is a timely reminder to banks and the public to stay vigilant across global operations, and to maintain an up-to-date global regulatory strategy. Introduction From the Alert, three banks...
Cybersecurity and Data Privacy review and update: Looking back on 2018 and planning ahead for 2019
Posted on Mar 1, 2019 in Cybersecurity, Data Privacy, Energy and Infrastructure, Financial Services, GDPR, Government, Insurance, Intellectual Property, Litigation, Regulation, Securities & Corporate Governance | Comments Off on Cybersecurity and Data Privacy review and update: Looking back on 2018 and planning ahead for 2019
From the implementation of the GDPR to the passage of the CCPA, the year 2018 proved to be a monumental one for cybersecurity and data privacy. Regulators from around the world responded to devastating, large-scale cyber-attacks, and a desire for their citizens to have more control over their data, by passing a wide range of regulations aimed at protecting consumer information. These...
It’s a material world—why the SEC’s Yahoo! penalty really matters
Posted on May 4, 2018 in Cybersecurity, Data Privacy | Comments Off on It’s a material world—why the SEC’s Yahoo! penalty really matters
Determining whether to notify when struck by a cyberattack can be a complex undertaking, but the SEC’s recent $35 million penalty levied on Yahoo! Inc. for untimely disclosure of its breach raises the stakes for corporations. The need for a proactive, well-thought out regulatory notification strategy, and an awareness of the dangers of default non-disclosure positions, has never been...
Indictment in Massive Iranian Cyberbreach Shows Companies Still Vulnerable
Posted on Mar 27, 2018 in Cybersecurity | Comments Off on Indictment in Massive Iranian Cyberbreach Shows Companies Still Vulnerable
If general counsel fear their companies are vulnerable to cyberattacks from far afield, they have good reason. An indictment unsealed Friday details how hackers hired by the Iranian government broke into computer systems of at least 36 U.S. companies, including technology firms, banks, media companies and a law firm. Learn more.
Today’s cybersecurity strategies are “not sufficiently robust or scalable,” Nuclear Threat Initiative says
Posted on Mar 21, 2018 in Cybersecurity, Energy and Infrastructure | Comments Off on Today’s cybersecurity strategies are “not sufficiently robust or scalable,” Nuclear Threat Initiative says
The cyber threat to nuclear facilities is serious, but the challenge going forward is evident,” Dr. Page Stoutland, NTI vice president of scientific and technicals affairs, said in the post. “Threats and vulnerabilities will continue to mount. Today’s strategy is not sufficiently robust or scalable, and a high level of cybersecurity may never be compatible with current nuclear plant...
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