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 […]
Data Breach
Brazil’s General Data Protection Law: A Comparison Between Brazil’s Newly Effective Law and the GDPR
Brazil’s General Data Protection Law (the “LGPD”), a law similar to the European Union’s General Data Protection Regulation (the “GDPR”) is now effective. On April 29 of this year, Brazil’s President issued Provisional Measure 959 that, amongst other things, postponed the effective date of the LGPD, which was originally set to be effective August 2020, […]
NIST Publishes Privacy Framework Version 1.0
On January 16, 2020, the National Institute of Standards and Technology (“NIST”) published Version 1.0 of its Privacy Framework: A Tool for Improving Privacy through Enterprise Risk Management (“Privacy Framework”). A draft version was initially published for public comment on September 6, 2019. The new Privacy Framework is designed to support organizations in building customer’s […]
Treasury Announces Sanctions Against Cybercriminal Group Behind ‘Dridex’ Malware, Offering Mitigation Strategies for Businesses
On December 5, 2019, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued sanctions against Evil Corp, a Russian cybercriminal organization that is known for distributing the Dridex malware. Dridex is a banking trojan that has been used to target financial institutions across the globe and has resulted in more than $100 million […]
New Hampshire Passes Insurance Data Security Law
New Hampshire recently passed its Insurance Data Security Law based on the National Association of Insurance Commissioners’ (NAIC) Insurance Data Security Model Law. The law will go into effect January 1, 2020. New Hampshire is one of several states, including Alabama, Connecticut, Delaware, Michigan, Mississippi, Ohio, and South Carolina, that has passed an insurance data […]