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Cyber Risk

NYDFS Issues Best Practices for Cyber Insurance Risk Management

February 18, 2021 By Kate Hanniford

Against the backdrop of the disruptions associated with the Covid-19 pandemic and SolarWinds cyber-espionage campaign, NYDFS has released guidance for insurers that underwrite cyber insurance policies and which contains a number of provisions expected to impact companies applying for or renewing cyber insurance coverage, not the least of which is a specific recommendation that insurers […]

Filed Under: Advisories, Cyber Risk, Cybersecurity, NYDFS

Alston & Bird Analyzes New California Privacy Rights Act in Client Alert

November 4, 2020 By Privacy, Cyber & Data Strategy Team

Yesterday, California voters approved a ballot initiative containing the California Privacy Rights Act of 2020. The ballot initiative significantly revises the existing California Consumer Privacy Act to create arguably the most comprehensive state privacy law in the United States. Alston & Bird has now issued a client alert explaining key impacts of this law. The […]

Filed Under: Advisories, Ballot Initiatives, Behavioral Advertising, California, CCPA, Cyber Risk, Cybersecurity, Data Breach, Data Protection, Data Security, Enforcement, Financial Privacy, Insurance Data Security, Legislation, Privacy, Regulation Tagged With: California Consumer Privacy Act (CCPA), California Privacy Rights Act, California Privacy Rights and Enforcement Act, CPRA, Proposition 24

State Financial Regulators Issue Ransomware Mitigation Tool

October 16, 2020 By Kim Peretti, Amy Mushahwar and Alysa Austin

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 […]

Filed Under: Cyber Risk, Cybercrime, Cybersecurity, Data Breach, Data Protection, Data Security, Digital Crimes, Enforcement, Financial Privacy, Privacy

FinCEN Alerts Financial Institutions on Role in Facilitating Ransomware Attacks

October 2, 2020 By Alysa Austin and Privacy, Cyber & Data Strategy Team

With an increase in the frequency, sophistication, and cost of ransomware attacks, the Financial Crimes Enforcement Network (FinCEN) issued an advisory on October 1, 2020 alerting financial institutions to ransomware trends and typologies, and related financial red flags, that may result in a regulatory obligation to report and share information related to ransomware attacks. Based […]

Filed Under: Advisories, Cyber Risk, Cybercrime, Cybersecurity, Data Protection, Data Security, Digital Crimes, Enforcement, Financial Privacy, Privacy Tagged With: Ransomware

OFAC Ransomware Advisory Warns Companies of Potential Civil Liability

October 2, 2020 By Alysa Austin and Privacy, Cyber & Data Strategy Team

Yesterday, October 1, 2020, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued its “Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments.” The advisory begins with the observation that “ransomware attacks have become more focused, sophisticated, costly, and numerous,” citing certain FBI statistics, before making clear what was already well […]

Filed Under: Advisories, Cyber Risk, Cybersecurity, Data Security, Digital Crimes, Enforcement, Financial Privacy, Privacy

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Recent Posts

  • CPPA Publishes Revised Cybersecurity Audit Regulations in Advance of Board Meeting
  • Colorado AG Publishes Shortlist of Universal Opt-Out Mechanisms
  • Ransomware Group, in Midst of Extortion Attempt, Files Regulatory Notice with SEC
  • FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions
  • China Releases Major Changes in its Draft Regulations on Cross-border Data Flows
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