The FBI’s Internet Crime Complaint Center (“IC3”) recently released its annual report, the 2020 Internet Crime Report (“Report”), which gathers statistics from nearly 800,000 complaints of suspected cybercrimes that the department received in 2020. This is a record number of complaints—a 69% increase from 2019—with reported losses exceeding $4.2 billion. According to the FBI, the […]
Security Breach
NYDFS Reports Major Cybersecurity Settlement
In early March, the New York Department of Financial Services (NYDFS) announced a settlement involving a $1.5M penalty and mandatory remediation in response to a mortgage lender’s alleged failure to report a cyber breach, and other alleged cybersecurity failures. This enforcement action marks the second public enforcement action under 23 NYCRR Part 500 (the “Cybersecurity […]
SolarWinds Hack: Unparalleled Supply Chain Attack Results in Potential Compromise of Private and Public Sector Organizations
On Sunday, December 13, 2020, SolarWinds announced that it had learned of a “highly sophisticated, manual supply chain attack” by a nation state affecting its Orion Platform, which is used by a wide variety of public and private sector organizations for IT infrastructure monitoring and management. In this attack, adversaries were able to compromise the […]
Warning: Iranian Cyber Response Possible Against Private Industry
After Friday’s announcement of the killing of Major General Qassem Soleimani, a leader of Iran’s Quds Force, several regulators have put industry on high alert of the increased potential for cyber-attack. Iran has a known history of launching cyber-attacks against US industry, and regulators warn industry to prepare for a possible rise in cyber-attacks. The […]
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 […]