Department of Homeland Security Warns of Cyber-Attacks by Iran -
The Department of Homeland Security (DHS) issued a grave warning to U.S. businesses and critical infrastructure operators on January 6, 2020, alerting the...more
1/10/2020
/ Assassinations ,
Critical Infrastructure Sectors ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Department of Homeland Security (DHS) ,
Drones ,
Federal Aviation Administration (FAA) ,
Financial Services Industry ,
Foreign Relations ,
Hackers ,
Information Sharing ,
Iran ,
Microsoft ,
NYDFS ,
Operating System Developers ,
Personally Identifiable Information ,
Risk Management ,
Risk Mitigation ,
Unmanned Aircraft Systems ,
Vulnerability Assessments
In view of Iran’s vows to retaliate against the United States for the death of Quassem Soleimani, the NYDFS has issued an industry letter to all regulated entities regarding the need for heightened cybersecurity precautions....more
1/8/2020
/ Assassinations ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Financial Institutions ,
Financial Services Industry ,
Foreign Relations ,
Hackers ,
Iran ,
NYDFS ,
Personally Identifiable Information ,
Retaliation ,
Risk Alert ,
Risk Management ,
Risk Mitigation
National Veterinary Associates (NVA), a large network of veterinary hospitals and clinics, has reportedly been the victim of a ransomware attack. According to the reports, NVA employs more than 2,600 veterinarians, with over...more
12/11/2019
/ Aviation Industry ,
Beneficiaries ,
Biometric Information ,
Bitcoin ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Drones ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Medicare ,
Personally Identifiable Information ,
Popular ,
Ransomware ,
Restaurant Industry ,
Settlement Agreements ,
Virtual Currency
Stablecoin currencies such as Facebook’s Libra may pose systemic risks to the global financial system, according to a recently released Federal Reserve Report. In its Financial Stability Report released on November 19, 2019,...more
GandCrab Ransomware Backers Working on New Ransomware REvil -
We previously reported that the criminals behind the GandCrab Ransomware were retiring, and that a patch was discovered and companies are urged to implement the...more
7/22/2019
/ Artificial Intelligence ,
AT&T ,
Cryptocurrency ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Digital Wallets ,
DNA ,
Drones ,
Facial Recognition Technology ,
Hackers ,
Identity Fraud ,
Personally Identifiable Information ,
Premera Blue Cross ,
Ransomware
In the Federal Reserve’s July 11, 2019 White Paper, “Synthetic Identity Fraud in the U.S. Payment System, A Review of Causes and Contributing Factors,” the authors conclude that synthetic identity fraud is a serious and...more
The North American Securities Administrators Association (NASAA) this week approved an information security model rule package aimed at improving the cybersecurity posture of the 17,543 state-registered advisers.
...more
5/24/2019
/ Contract Drafting ,
Cryptocurrency ,
Cybersecurity ,
Data Privacy ,
Electronic Protected Health Information (ePHI) ,
FinCEN ,
Hackers ,
Investment Adviser ,
Mobile Apps ,
Model Rules ,
Money Laundering ,
Money Services Business ,
NASAA ,
Phishing Scams ,
Popular ,
Securities Regulation ,
Virtual Currency ,
WhatsApp
The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury Department bureau charged with monitoring financial transactions in order to combat domestic and international money laundering, terrorist financing and...more
5/24/2019
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Blockchain ,
BSA/AML ,
Business Model ,
Cryptocurrency ,
Financial Crimes ,
Financial Transactions ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Know Your Customers ,
Money Laundering ,
Money Services Business ,
New Guidance ,
Popular ,
Suspicious Activity Reports (SARs) ,
Terrorist Financing Regulations ,
Virtual Currency
Following in the footsteps of the New York Department of Financial Regulation (NYDFS) in enacting cybersecurity requirements for the financial services industry, and in response to massive data breaches in the insurance...more
4/15/2019
/ California Consumer Privacy Act (CCPA) ,
Cryptoassets ,
Cybersecurity ,
Data Privacy ,
Drones ,
Federal Aviation Administration (FAA) ,
FSB ,
G20 ,
Hackers ,
Hiring & Firing ,
Insurance Industry ,
Job Applicants ,
Phishing Scams ,
State Labor Laws
The Financial Stability Board issued its Crypto-assets regulators directory on April 5, 2019, in anticipation of this week’s upcoming G20 Meeting. The directory contains a listing of the regulatory and standard-setting bodies...more
In its C-Suite Challenge 2019, The Conference Board surveyed more than 800 CEOs and some 600 other C-Suite executives around the globe, drawing primarily from the U.S., Asia, and Europe.
...more
2/1/2019
/ Call Centers ,
CEOs ,
Cyber Threats ,
Cybersecurity ,
Data Privacy ,
Drones ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
General Data Protection Regulation (GDPR) ,
Geolocation ,
Geological Data ,
Google ,
Telecommunications ,
Wire Transfers
Industrial Loan Companies (ILCs) are a different kind of financial institution. The ILC is a state-chartered FDIC-insured depository financial institution with certain advantages common to banks but without all of the...more
New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more
12/31/2018
/ Banking Sector ,
Blockchain ,
Connected Items ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Distributed Ledger Technology (DLT) ,
Drones ,
Federal Aviation Administration (FAA) ,
Financial Conduct Authority (FCA) ,
Hackers ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
Personally Identifiable Information ,
Popular ,
Wells Fargo
A report released by cybersecurity firm Agari has come to conclusion that we have been experiencing all year—a hacking group in Nigeria, dubbed “London Blue,” is targeting CFOs and controllers from small businesses to...more
12/17/2018
/ Bitcoin ,
CFOs ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Drones ,
FinTech ,
Google ,
Hackers ,
HIPAA Breach ,
Marriott ,
OCR ,
OSHA ,
Pensions ,
PHI ,
Retirement Plan ,
Safety Inspections ,
Securities Litigation ,
Smart Contracts ,
Stock Prices ,
Vulnerable Victims ,
Workplace Safety
The Commodity Futures Trading Commission’s LabCFTC recently released “A CFTC Primer on Smart Contracts” as part of LabCFTC’s effort to engage with innovators and market participants on a range of financial technology...more
Some analysts have predicted that by 2020, there will be 20 billion Internet of Things (IoT) connected devices worldwide, which could grow to over 80 billion by 2025. Global sales of IoT devices were $80 billion in 2017, and...more
12/3/2018
/ Cybersecurity ,
Data Privacy ,
Drones ,
FSB ,
General Data Protection Regulation (GDPR) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
HIPAA Breach ,
Identity Theft ,
Internet of Things ,
IRS ,
OCR ,
Tax Scams ,
Unmanned Aircraft Systems ,
Vendors
On November 12, The Financial Stability Board (FSB) published a Cyber Lexicon, designed to help financial institutions around the globe address “financial sector cyber resilience.” ...more
Non-profit organizations collect, use and disclose personal information just like any other for-profit industry. However, non-profit organizations often don’t have the same resources to devote to data security as their...more
11/5/2018
/ Artificial Intelligence ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Driverless Cars ,
Drones ,
Ford Motor ,
FTC Guidelines ,
General Data Protection Regulation (GDPR) ,
Hackers ,
Malware ,
Nonprofits ,
Ransomware ,
Regulatory Standards ,
Sandbox ,
Settlement Negotiations ,
Spoofing ,
U.S. Treasury ,
Yahoo!
The Federal Energy Regulatory Commission (FERC) announced on July 19, 2018, that it is directing the North American Electric Reliability Corporation (NERC) “to develop and submit modifications to the NERC Reliability...more
7/30/2018
/ Banking Sector ,
Bitcoin ,
Blockchain ,
Bulk Electric System ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cybersecurity ,
Dark Web ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Drones ,
Electricity ,
Energy Sector ,
FERC ,
Final Rules ,
Financial Fraud ,
Financial Institutions ,
Financial Services Industry ,
Hackers ,
LifeLock ,
Malware ,
National Security ,
NERC ,
Phishing Scams ,
Popular ,
Reliability Standards ,
Reporting Requirements ,
Sensitive Business Information ,
US Air Force ,
Utilities Sector ,
Virtual Currency
In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more
7/30/2018
/ Blockchain ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Services Committee ,
Financial Services Industry ,
FinTech ,
Innovation ,
Innovative Technology ,
Regulatory Agenda ,
Regulatory Oversight ,
Sandbox ,
Virtual Currency
CYBERSECURITY -
Ticketmaster Hit With Malware Compromising UK Customers’ Data -
Ticketmaster has reported that it has “identified malicious software on a customer support product hosted by Inbenta Technologies, an...more
7/6/2018
/ Consumer Privacy Rights ,
Cyber Attacks ,
Data Breach ,
Data Collection ,
Entertainment Industry ,
Event Tickets ,
Hackers ,
Malware ,
New Legislation ,
Personal Data ,
Personally Identifiable Information ,
Scams ,
State and Local Government ,
State Data Breach Notification Statutes ,
Tax Preparers ,
TIAA CREF ,
Vacation Rentals
On June 27, 2018, the State of Connecticut Treasurer’s Office announced that about $1.4 million had been stolen from Connecticut Higher Education Trust (CHET) college-savings accounts. This theft resulted from data security...more
CYBERSECURITY -
Financial Conduct Authority Warns Banking Industry of ICOs and Cryptocurrency -
Writing a “Dear CEO” letter to banking executives, the Financial Conduct Authority (FCA) warned executives on June 11,...more
6/18/2018
/ Banking Sector ,
Bitcoin ,
Cryptocurrency ,
Currency Exchange ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Privacy ,
Drones ,
Energy Sector ,
False Claims Act (FCA) ,
Fidelity Investments ,
Initial Coin Offering (ICOs) ,
Legislative Agendas ,
North Korea ,
Popular ,
Risk Management ,
Shipwrecks ,
Trading Platforms ,
Unmanned Aircraft Systems ,
Wells Fargo ,
Wire Fraud
While many traditional financial institutions hesitate to embrace cryptocurrencies such as bitcoin, a recent news report suggests that Fidelity Investments, the fourth largest U.S. asset manager, is looking to enter the fray....more
6/12/2018
/ Asset Management ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Currency ,
Fidelity Investments ,
Financial Markets ,
Popular ,
Public Exchanges ,
Trading Platforms ,
Virtual Currency
We previously reported that the FBI has warned consumers about a nasty malware, known as VPNFilter and believed to have been launched by a Russian government hacking group, which is infecting hundreds of thousands of small...more
6/12/2018
/ Artificial Intelligence ,
Banking Sector ,
Certification Requirements ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Drones ,
Event Tickets ,
FBI ,
Federal Aviation Administration (FAA) ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
Hackers ,
LabMD ,
Malware ,
Network Security ,
Personally Identifiable Information ,
Popular