News & Analysis as of

Cyber Crimes United Kingdom

A&O Shearman

UK - When is a data protection claim not a data protection claim?

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In a recent case, Pacini & Anor v Dow Jones & Company Inc., the publisher of the Wall Street Journal unsuccessfully applied to strike out a data protection claim concerning two historic articles....more

Cadwalader, Wickersham & Taft LLP

UK Spearheads Global Commitment to the Crypto-Asset Reporting Framework

The Crypto-Asset Reporting Framework (“CARF”), is the OECD’s flagship tax transparency standard to help combat criminal activity using crypto-assets to evade taxation. The key aspects of the CARF were covered in the article...more

Mitratech Holdings, Inc

‘Tis the season for better cyber hygiene: navigating IT risk management in 2024

Mitratech Holdings, Inc on

Prepare your organization to stay one step ahead in the ongoing battle against cyber and IT risk management. As organizations increasingly leverage third-party services and cloud technologies, cybercriminals are becoming...more

BakerHostetler

Bank Launches Blockchain Network; Stablecoin Initiatives Launch in Foreign Markets; New Crypto Guidance Published; Reports Provide...

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U.S. Bank Launches Blockchain Network, Crypto Bank Gains Securities License - According to recent reports, the largest bank in the U.S. has gone live with its blockchain-based Tokenized Collateral Network (TCN) and...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

Goodwin on

In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

J.S. Held

Top 4 Cybersecurity Headaches Plaguing Financial Services Institutions

J.S. Held on

Most Financial Services Institutions (FSIs) have digital technology at their core. And a primary responsibility for most FSIs is “cyber-connect” customers – be they organizations or individuals – with their money simply and...more

A&O Shearman

The ransomware hostage’s dilemma - should you pay the price?

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Paying a cyber ransom will, allegedly, secure your data and give you back control of your systems. But there are legal, operational and ethical risks to consider....more

Ankura

The Cybersecurity Insurance Market: What to Expect in 2023

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In recent years, especially through 2019 and 2020, the cyber insurance market in the U.S. has seen significant growth. Middle-market companies have been actively requesting cyber insurance policies with low rates and broad...more

A&O Shearman

Show me the Cryptocurrency: English High Court Grants Novel Information Orders Against Crypto Exchanges

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The High Court has once again grappled with novel issues raised by disputes concerning cryptoassets, this time in the context of an interim application for information orders....more

Proskauer - Minding Your Business

A New Gateway Opens – More English Court Options for Victims of Overseas Fraud

Recent rule changes allow claimants full access to key English law mechanisms to discover the identity of defendants and location of assets, even where the wrongdoers and third parties are not based in England. This is highly...more

Alston & Bird

UK’s National Cyber Security Centre Releases 2022 Annual Review

Alston & Bird on

The United Kingdom’s National Cyber Security Centre (NCSC) recently released its 2022 Annual Review, which reports on the state of cyber security threats in the country. As the UK’s technical authority for cyber security, the...more

White & Case LLP

Director liability for cyber breaches: transatlantic warning signs?

White & Case LLP on

Two legal cases in the US in the past month suggest that regulators and prosecutors are becoming more determined to take personal action against directors and senior executives who fail to deal adequately with cyber security...more

Eversheds Sutherland (US) LLP

Financial Crime Horizon Scanner: 2022 - Q1 (UK)

Our quarterly Financial Crime Horizon Scanner for the UK summarizes key financial crime related legal and regulatory changes expected over the next 2 years and provides electronic links to key resources. We hope that you...more

Foley Hoag LLP - Security, Privacy and the...

US, UK, Australia, Canada and New Zealand Issue Advisory on Russian State-Sponsored and Criminal Cyber Threats to Critical...

The cybersecurity authorities of the United States, Australia, Canada, New Zealand, and the United Kingdom have released a joint Cybersecurity Advisory (CSA) to warn organizations that Russia’s invasion of Ukraine could...more

Latham & Watkins LLP

Cyber and Payments are Priority Areas for Policy Changes

Latham & Watkins LLP on

Elisabeth Stheeman of the Financial Policy Committee outlined the new frameworks for building operational resilience against cyber risks and protection of payment chains. On 9 September 2020, Elisabeth Stheeman, an...more

Hogan Lovells

UK FCA publishes annual Sector Views report

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The UK Financial Conduct Authority (FCA) has published Sector Views, its annual report examining how each financial sector is performing....more

Robins Kaplan LLP

Financial Daily Dose 1.28.2020 | Top Story: Markets Tumble as Fears Spread Over Coronavirus Epidemic

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A mounting death toll (over 106 and counting) and fears of a coronavirus pandemic sent markets tumbling early on Monday and kicked off a selloff that continued all day....more

White & Case LLP

Singapore and UK financial watchdogs announce new cooperation efforts to strengthen cybersecurity

White & Case LLP on

Cyber attacks are a national security concern in the UK. While individuals can be victims of such attacks, private sector institutions are often the direct targets. Cyber attacks can critically damage a commercial reputation...more

A&O Shearman

UK Regulator Sets Out Strategy to Manage Risk of Harm from Wholesale Brokers

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The Financial Conduct Authority has published a "Dear CEO" letter addressed to wholesale market broking firms highlighting its view of the key risks of harm that such brokerage firms pose for their clients and markets and the...more

Littler

Data Breach in the UK: Can a Rogue Employee Leave You on the Hook?

Littler on

A supermarket chain in the United Kingdom has been all over the press after it was held liable for a data breach by a rogue employee. This article analyzes the appellate court’s judgment to set out what it means for employers...more

WilmerHale

The FCA's First Annual Financial Crime Survey Results

WilmerHale on

On 13 November 2018 the UK Financial Conduct Authority (FCA) published its inaugural report analysing data gathered from over 2,000 firms - including all UK-based banks and building societies - in response to the FCA’s first...more

Hogan Lovells

LawTech in London! New court – read the latest from our Global Products Law Team

Hogan Lovells on

In a move to cement London’s reputation as “the” global legal centre, on 4 July 2018 a new flagship court was announced by Lord Chancellor David Gauke.  The new court will specialise in (among other things) cybercrime, fraud...more

WilmerHale

The tide is turning: using technology against criminals

WilmerHale on

On 22 May 2018, Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at the Financial Conduct Authority (“FCA”), delivered a speech on the use of technology to detect and counteract criminal...more

A&O Shearman

Cybercrime and blackmail – court remedies and GDPR

A&O Shearman on

Following blackmail threats against two companies from cyber-attackers who had stolen confidential information, the court granted injunctions against unknown defendants prohibiting publication of stolen confidential...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - March 2018

In this month's edition of our Privacy & Cybersecurity Update, we discuss all 50 states now having data breach notification laws, state attorneys general and their opposition to a federal data breach notification law, the FBI...more

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