It has become common knowledge that the General Data Protection Regulation (2016/679) (GDPR) heavily restricts transfers of personal data outside of the European Union (EU). In the absence of an adequacy decision by the European Commission, the GDPR allows controllers and processors to transfer personal data to a third country outside of the EU only […]
Crisis & Data Breach Response
NYDFS Releases Consent Order in First Enforcement Action Brought Under the Cybersecurity Regulations
After a three-year investigation/enforcement action by the New York Department of Financial Services (“NYDFS”), NYDFS entered into a Consent Order with a large title insurer (the “Company”) for its violation of NYDFS’s Cybersecurity Regulation (23 NYCRR Part 500) (the “Regulation”), specifically, its failure to protect non-public information (“NPI”). NYDFS originally brought the enforcement action in […]
FCC Plans to Update Data Breach Notification Rules
After a decade and a half under the current data breach notification rules for telecommunications carriers and telecommunications relay services (TRS) providers, the FCC recently unveiled plans to update and expand them. On November 22, 2023, the FCC issued a Report and Order that it intends to consider at its December 13th meeting that would […]
Ransomware Group, in Midst of Extortion Attempt, Files Regulatory Notice with SEC
Just a month before the Security and Exchange Commission’s (“SEC’s”) Material Cybersecurity Incidents Rule is set to take effect, a ransomware group has apparently taken compliance with reporting requirements into its own hands. On November 15, 2023, the ransomware group known as BlackCat (also known as “AlphV”) posted a notice on its leak site alleging […]
FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions
On October 27, 2023, the FTC approved an amendment to the Safeguards Rule (the “Amendment”) requiring that non-banking financial institutions notify the FTC in the event of a defined “Notification Event” where customer information of 500 or more individuals was subject to unauthorized acquisition. The Amendment becomes effective 180 days after publication in the […]