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
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
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
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
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
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
President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more
6/5/2018
/ Bank Accounts ,
Banking Sector ,
Consumer Financial Products ,
Cybersecurity ,
Deregulation ,
Dodd-Frank ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
New Legislation ,
Online Banking ,
Popular ,
Risk Assessment ,
Risk Management ,
Vulnerability Assessments
On April 10, the Federal Financial Institutions Examination Council (FFIEC) members issued a joint statement discussing cyber insurance and its potential role in the risk management programs of financial institutions. ...more
4/24/2018
/ Banking Sector ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Protection ,
FFIEC ,
Financial Institutions ,
Hackers ,
Popular
Cybersecurity Task Force Launched in Arizona -
Arizona Governor Doug Ducey launched the Arizona Cybersecurity Team (ACT) by Executive Order on March 1, 2018. The ACT is comprised of 22 members representing officials from...more
3/9/2018
/ Banking Sector ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Drones ,
Federal Agency Taskforce ,
Financial Services Industry ,
Hackers ,
Healthcare ,
Information Technology ,
Insurance Industry ,
Medicare ,
NYDFS ,
Personally Identifiable Information ,
Phishing Scams ,
Popular ,
Risk Management ,
State and Local Government ,
Unmanned Aircraft Systems
As of February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) are required to file their first certification of...more
2/16/2018
/ Banking Sector ,
Bitcoin ,
Blockchain ,
Chief Information Security Officer (CISO) ,
Cybersecurity ,
Cybersecurity Framework ,
Data Privacy ,
Data Protection ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Drones ,
Extortion ,
Financial Institutions ,
Financial Services Industry ,
Health Insurance Portability and Accountability Act (HIPAA) ,
HITECH Act ,
Information Technology ,
Insurance Industry ,
Medical Records ,
No-Fly Zones ,
NYDFS ,
Olympics ,
Popular ,
Risk Management ,
Virtual Currency
On February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) will be required to file their first certification of...more
2/15/2018
/ Banking Sector ,
Chief Information Security Officer (CISO) ,
Cybersecurity ,
Cybersecurity Framework ,
Data Protection ,
Financial Institutions ,
Financial Services Industry ,
Information Technology ,
Insurance Industry ,
NYDFS ,
Popular ,
Risk Management
Think Tank Says Nuclear Missiles Can be Inadvertently Launched Through Cyber-Attacks -
Just before the false alarm in Hawaii last weekend when residents were erroneously warned of an impending missile attack, think tank...more
1/19/2018
/ Bitcoin ,
Cloud Storage ,
Common Law Claims ,
Confidential Communications ,
Cryptocurrency ,
CT Supreme Court ,
Cybersecurity ,
Department of Justice (DOJ) ,
Digital Currency ,
Drones ,
Government Investigations ,
Hackers ,
Malware ,
Medical Records ,
National Security ,
North Korea ,
Nuclear Weapons ,
Popular ,
Ransomware ,
Virtual Currency ,
Vulnerability Assessments
Researchers at cybersecurity firm AlienVault have discovered a computer virus of North Korean origin which infects and hijacks computers in order to mine Monero, a private digital currency which styles itself as “secure,...more
1/17/2018
/ Android ,
Bitcoin ,
Cryptocurrency ,
Cyber Crimes ,
Digital Currency ,
Hackers ,
Malware ,
North Korea ,
Popular ,
Smartphones ,
Virtual Currency
Apple has pushed an update to iOS 11.2 to its users. Users should consider pushing any updates that are recommended by the manufacturer, as there is usually a reason behind the update, and many times it is to fix a...more
12/22/2017
/ Apple ,
Blockchain ,
Cyber Attacks ,
Data Breach ,
Distributed Ledger Technology (DLT) ,
Drones ,
Federal Aviation Administration (FAA) ,
Hackers ,
Mobile Apps ,
Mobile Devices ,
Popular ,
Ransomware ,
Registration Requirement ,
Risk Management ,
Smartphones ,
Technology ,
Trump Administration ,
Unmanned Aircraft Systems ,
Vulnerability Assessments
Senate Bill 398, unanimously passed by the Nevada legislature and signed into law by the Governor on June 5th, represents the most far-reaching state legislation to date concerning the use of blockchain technology. Blockchain...more
In an effort to combat an increasing number of fraudulent transfers carried out using its network, SWIFT, the international bank transfer network, announced this month that it is adding new tools and controls designed to...more
4/18/2017
/ Banking Sector ,
BSA/AML ,
Cyber Attacks ,
Cyber Crimes ,
Financial Institutions ,
Fraudulent Transfers ,
Hackers ,
Money Transfer ,
Popular ,
Risk Management ,
SWIFT
Cybersecurity specialists at BAE Systems and Symantec announced last week new evidence suggesting that the criminals behind the notorious 2014 attack on Sony Corp. are also responsible for recent cyber-attacks involving 104...more
2/22/2017
/ Bangladesh ,
Banking Sector ,
Banks ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Security ,
Financial Institutions ,
Hackers ,
Malware ,
Mexico ,
Personally Identifiable Information ,
Poland ,
Popular ,
Sony ,
Symantec ,
Uruguay ,
Websites
Long gone are the days when a financial institution’s primary security concern was protecting cash in the bank vault, the Federal Deposit Insurance Corporation (FDIC) acknowledges in its recent article, “A Framework for...more
The Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage disclosure rule is designed to prevent surprises at the closing table, but with increased transparency come concerns over borrower and seller...more
10/14/2015
/ Borrowers ,
Closing Documents ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Disclosure Requirements ,
Financial Institutions ,
Lenders ,
Loans ,
Mortgage Lenders ,
Mortgages ,
Popular ,
Privacy Concerns ,
Privacy Laws ,
Residential Real Estate Market ,
Sellers ,
TILA-RESPA Integrated Disclosure Rule (TRID)
The Federal Financial Institutions Examination Council (FFIEC) has recently developed a new tool to help U.S. financial institutions combat the increasing volume and sophistication of cyber attacks. To blunt threats to a...more
8/24/2015
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Cyber Attacks ,
Cyber Crimes ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
FDIC ,
Federal Reserve ,
FFIEC ,
Financial Institutions ,
Hackers ,
NCUA ,
OCC ,
Popular