On December 18, 2020, federal financial regulatory agencies jointly announced a proposed rule that would impose new and expanded reporting requirements on supervised banking organizations that experience a “computer-security incident,” requiring notice within 36 hours of any computer-security incident that rises to the level of a “notification incident.” In a significant departure from current reporting […]
SolarWinds Hack: Unparalleled Supply Chain Attack Results in Potential Compromise of Private and Public Sector Organizations
On Sunday, December 13, 2020, SolarWinds announced that it had learned of a “highly sophisticated, manual supply chain attack” by a nation state affecting its Orion Platform, which is used by a wide variety of public and private sector organizations for IT infrastructure monitoring and management. In this attack, adversaries were able to compromise the […]
State Financial Regulators Issue Ransomware Mitigation Tool
On October 13, 2020, state financial regulators in partnership with the Bankers Electronic Crimes Taskforce and the U.S. Secret Service, released the Ransomware Self-Assessment Tool (R-SAT) to help financial institutions mitigate the risks of ransomware. The R-SAT is a detailed questionnaire designed to evaluate the effectiveness of an institution’s general security controls as well as […]
The NYDFS Brings First Enforcement Action under the Cybersecurity Regulation
On Tuesday, July 21, 2020, the New York Department of Financial Services (the “NYDFS”) brought its first enforcement action under its Cybersecurity Regulation (the “Regulation”) against a large title insurer (the “Company”) for failing to protect sensitive personal information. The NYDFS is seeking civil monetary penalties, an order requiring the Company to remedy the alleged […]
UK National Cyber Security Centre Advisory: Russian Attackers, APT29, Targets Companies Involved in COVID-19 Vaccine Development
Yesterday, the UK National Cyber Security Centre and Canada’s Communications Security Establishment released an advisory linking APT29 (also known as, ‘the Dukes’ or ‘Cozy Bear’) to attacks against COVID-19 vaccine development in Canada, the US and the UK. The Advisory stated that APT29 is “almost certainly part of the Russian intelligence services.” APT29/Cozy Bear was […]