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Search Results for: ransomware

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

SEC’s OCIE Issues Ransomware Risk Alert

July 13, 2020 By Kate Hanniford

On July 10, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert noting the increasing sophistication of ransomware attacks on SEC registrants and service providers to SEC registrants.  The Risk Alert is notable for its encouragement of financial services market participants more broadly and not just SEC registrants to monitor CISA […]

Filed Under: Advisories, Cyber Risk, Data Security

Outbreak of “WannaCry” and “Wanna Decryptor” Ransomware Affects Companies Across the Globe

May 14, 2017 By Privacy, Cyber & Data Strategy Team

On Friday, May 12, companies in countries across the globe witnessed an unprecedented malware outbreak as ransomware labeled “WannaCry” and “Wanna Decryptor” infected a large range of critical systems. The malware exploits a vulnerability in older versions of Microsoft’s Windows, locks the systems it infects, and threatens to delete files unless a bitcoin ransom is […]

Filed Under: Cybersecurity, International, National Security Tagged With: cybersecurity, National Security

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