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Alysa Austin

Recent FTC Order Has Implications for Executive Liability and Corporate Data Minimization Practices

October 28, 2022 By Kim Peretti, Alysa Austin and Kristen Bartolotta

On October 24, 2022, the Federal Trade Commission (“FTC”) announced a proposed consent order against both Drizly LLC, an online marketplace for alcohol delivery, and its CEO over the company’s alleged security failures that led to a data breach in 2020, which exposed the personal information of approximately 2.5 million Drizly customers. Drizly and its […]

Filed Under: Cybersecurity, Data Breach, Data Protection, Data Security, Enforcement, FTC Tagged With: Cybersecurity, Data Protection, Federal Trade Commission (FTC)

SEC Settles Enforcement Actions with Broker-Dealers and Investment Advisors for Identity Protection Deficiencies

August 1, 2022 By Alysa Austin and Kate Hanniford

On July 27, 2022, the Securities and Exchange Commission (SEC) separately settled three enforcement actions with broker-dealers and investment advisers for alleged deficiencies relating to the prevention of customer identity theft, in violation of the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID. Regulation S-ID requires registered financial institutions, broker dealers, and investment advisers […]

Filed Under: Cybersecurity, Data Protection, Financial Privacy Tagged With: Cybersecurity, Data Protection, Identity Theft, Regulatory Enforcement, Securities and Exchange Commission

SEC Proposed Rule Will Require Private Funds to Report Certain Cyber Events

January 31, 2022 By Kate Hanniford and Alysa Austin

On January 26, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new rules to enhance hedge fund and private fund disclosure requirements and increase regulators’ visibility into the private funds industry. The proposed rules would amend the SEC’s Form PF, the confidential reporting form by which private funds disclose regulatory assets to the SEC, […]

Filed Under: Cyber Risk, Cybersecurity, Enforcement Tagged With: Cybersecurity, Notice of Proposed Rulemaking, SEC

FTC Releases Warning to Companies that Fail to Mitigate Log4j Vulnerability

January 5, 2022 By Alysa Austin and Privacy, Cyber & Data Strategy Team

Less than a month ago, a critical vulnerability was identified in the ubiquitous, open source Log4j tool prompting swift guidance from Cybersecurity and Infrastructure Security Agency (CISA) and other security practitioners.  Now, the Federal Trade Commission (FTC) has warned companies that it “intends to use its full legal authority” against any company that fails to […]

Filed Under: Cyber Risk, Cybercrime, Cybersecurity, Enforcement, FTC Tagged With: Cybersecurity, Log4j, Vulnerability

FBI Releases IC3 2020 Internet Crime Report Showing Record Increase in Cybercrime

April 28, 2021 By Alysa Austin

The FBI’s Internet Crime Complaint Center (“IC3”) recently released its annual report, the 2020 Internet Crime Report (“Report”), which gathers statistics from nearly 800,000 complaints of suspected cybercrimes that the department received in 2020. This is a record number of complaints—a 69% increase from 2019—with reported losses exceeding $4.2 billion. According to the FBI, the […]

Filed Under: Cyber Risk, Cybercrime, Cybersecurity, Digital Crimes, Security Breach

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