On August 8, 2023, the National Institute of Standards and Technology (NIST) released the initial draft of its Cybersecurity Framework 2.0 and draft Implementation Examples for public comment. This marks the first significant update to the NIST Cybersecurity Framework (“Framework”) since its initial release in 2014, which is intended to address current and future cybersecurity […]
Cybersecurity
Chinese Hackers Exploit Gap in Cloud Environment Used by U.S. Government
According to recent reports issued by Microsoft and U.S. government agencies, hackers recently exploited a gap in Microsoft’s cloud environment, enabling the malicious actors to access the email accounts of employees at the United States Commerce and State Departments. Including the U.S. government, around 10 organizations were victimized in the U.S. and about 25 were […]
NY DFS Releases Revised Proposed Second Amendment of its Cybersecurity Regulation
The New York Department of Financial Services (“NY DFS”) published an updated proposed Second Amendment to its Cybersecurity Regulation (23 NYCRR Part 500) in the New York State Register on June 28, 2023, updating its previous proposed Second Amendment, which was published November 9, 2022. While the language proposed is largely similar to the previous […]
NYDFS Penalizes bitFlyer $1.2 Million for Violations to Cybersecurity Regulation
On May 1, 2023, bitFlyer USA, Inc. (“bitFlyer”) entered into a Consent Order with the New York Department of Financial Services (“DFS”) for multiple deficiencies in bitFlyer’s cybersecurity program, most notably for failure to conduct periodic risk assessments to sufficiently inform the design of bitFlyer’s cybersecurity program (as required by 23 NYCRR § 500.09(a)). BitFlyer […]
FCC Proposes to Change Data Breach Reporting Rules for Telecommunication Companies
On January 6, 2023, the FCC released a Notice of Proposed Rulemaking (the “Notice”) proposing to “modernize the Commission’s data breach rules,” and thereby launching a formal effort to gather information from the industry on the issue of data breach reporting. The Notice, adopted on December 28, 2022, seeks to strengthen its rules with the […]