By Kim Peretti, Brian Frey, and Kristen Bartolotta On October 15, 2021 the Financial Crimes Enforcement Network (FinCen) of the Treasury Department issued a financial trend analysis on ransomware relating to Bank Secrecy Act (BSA) reporting filed in the first half of this year. FinCEN examined ransomware-related Suspicious Activity Reports (SARs) filed between January 1 […]
Cybercrime
Securities Class Actions Filed Against Three Chinese Tech Titans After Announcement of Cyber-Related Investigations
In early July, investigations by a Chinese cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), into at least three China-based technology companies—DiDi Global Inc. (“DiDi”), Full Truck Alliance Co. Ltd. (“FTA”), and Kanzhun Limited (“Kanzhun”)—were purportedly revealed weeks after each conducted a substantial initial public offering (“IPO”) on a United States stock exchange. These […]
U.S. Government Launches StopRansomware.gov
On July 15, 2021, the DOJ and DHS together with additional federal partners launched StopRansomware.gov, a one-stop hub intended to help the private and public sector mitigate the threat of ransomware. The website includes a range of resources geared towards private organizations, public and private critical infrastructure sectors, K-12 educational institutions, and state, local, tribal, […]
State Legislatures Consider Bans on Ransomware Payments
As ransomware attacks continue to dominate the news cycle, legislation has recently been introduced in several states that would place limits on certain entities’ ability to pay a ransom payment in the event of a ransomware attack. Although the proposed limits would generally apply to state agencies and other local governmental authorities, certain state proposals […]
The Supreme Court Narrows The Scope of The Computer Fraud and Abuse Act
Today, the Supreme Court issued a long-awaited decision in Van Buren v. United States interpreting the meaning of “exceeds authorized access” under the Computer Fraud and Abuse Act (“CFAA”). The 6-3 majority, led by Justice Barrett and joined by Justices Breyer, Sotomayor, Kagan, Gorsuch, and Kavanaugh, rejected the Government’s broad definition of this phrase. While […]