Earlier this year, the Center for Cyber & Homeland Security at the George Washington University (“Center”) announced a new project on active defense against cyber threats. The Center established a high-level task force to examine these issues. The task force included prominent cybersecurity and industry experts, including Alston & Bird partner Michael Zweiback. The Task Force […]
Cybersecurity
Bank Regulators Issue Advanced Notice of Proposed Rulemaking on Cyber Risk Governance and Management Regulations
More regulators (apart from the FTC) are now taking note of cybersecurity issues in the financial services industry and are taking steps to protect the industry and its consumers. Earlier this year, the Consumer Financial Protection Bureau (“CFPB”) issued its first enforcement action on data security against an online payment system. In June, the Federal […]
New York State Financial Services Regulator Issues Proposed Cybersecurity Regulations
On September 13, 2016, Governor Andrew Cuomo announced the issuance of proposed “first-in-the-nation” cybersecurity regulations for entities regulated by the New York Department of Financial Services (DFS), including jurisdictional banks, insurance companies, and other financial institutions. The proposed regulation will be subject to a 45-day comment period prior to being issued as a final rule. […]
Report Suggests Organizations Still Vulnerable to Credential Management and Network Segmentation Attacks
The Multi-State Information Sharing and Analysis Center (MS-ISAC) published its 2016 mid-year review on August 22, 2016, highlighting large incidents of malware infections, with particular emphasis on ransomware and click fraud malware. In contrast to the MS-ISAC report, however, an August 2016 report suggests most organizations would benefit from addressing issues of credential management and […]
FTC seeks public comment on Safeguards Rule and proposed changes
On August 29, 2016, the FTC announced it is seeking public comment on its Safeguards Rule as part of a systematic review of all FTC rules and guides. The Safeguards Rule came into force in 2003 after the Gramm-Leach-Bliley Act (GLBA) required that the FTC and other agencies establish administrative, technical, and physical information security […]