News & Analysis as of September 17, 2024

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

U.S. Implications of the EU AI Act

American Conference Institute (ACI) on 6/24/2024

The European Union (EU) is leading the global charge with AI regulations. U.S. companies are not beyond their regulatory reach, however, and should be preparing their AI risk mitigation efforts accordingly....more

Utah Becomes First State To Enact AI-Centric Consumer Protection Law

Skadden, Arps, Slate, Meagher & Flom LLP on 4/8/2024

On March 13, 2024, Utah enacted the Utah Artificial Intelligence Policy Act (UAIP), which imposes certain disclosure requirements on entities using generative AI tools with their customers, and limits an entity’s ability to...more

HHS Health Care Cybersecurity Performance Goals: Proposed Incentives, Penalties and Compliance Standards

Mintz - Health Care Viewpoints on 4/5/2024

As promised in the U.S. Department of Health and Human Services (HHS) concept paper in December 2023, the agency published voluntary health care and public health cybersecurity performance goals (HPH CPGs) in January 2024 and...more

Investigations Newsletter: Arkansas Men Convicted in $18 Million Global Investment Fraud Conspiracy

ArentFox Schiff on 9/11/2023

Arkansas Men Convicted in $18 Million Global Investment Fraud Conspiracy - A federal jury in the Western District of Arkansas convicted four men of conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money...more

Cyber Crime - Protecting Yourself from Publishing Scams in the UAE

Awatif Mohammad Shoqi Advocates & Legal... on 8/17/2023

Introduction: In the rapidly advancing digital age, cybercrime has become a serious global concern, and the UAE is not immune to this threat. Scammers are becoming increasingly sophisticated, using tactics such as fake calls,...more

Privacy Briefs: May 2023

Health Care Compliance Association (HCCA) on 5/12/2023

Five former Memphis-based hospital employees and another man have pled guilty to unlawfully disclosing patient information in violation of HIPAA, U.S. Attorney for the Western District of Tennessee Kevin Ritz announced....more

FDA Authorized to Establish New Cybersecurity Standards for Medical Devices: What it Means for Industry

Ankura on 4/26/2023

On December 29, 2022, President Biden signed a new statute that will significantly impact medical device cybersecurity regulation. Section 3305 of the Consolidated Appropriations Act of 2023 (“Section 3305”) authorizes the...more

CFIUS Year in Review

Foley Hoag LLP on 2/9/2023

CFIUS reviewed a record number of transactions in 2021 according to its most recent annual report – and shows no signs of slowing down. High technology (including quantum computing), life sciences, and green energy...more

New York Department of Financial Services Announces $5 Million Penalty in Most Recent Cybersecurity Enforcement Action

Faegre Drinker Biddle & Reath LLP on 7/11/2022

On June 23, 2022, the New York State Department of Financial Services (NYDFS) announced the entry of a Consent Order in connection with its most recent cybersecurity enforcement action, which included a $5 million monetary...more

Wait, that’s covered? Insurability of Fines and Penalties Flowing From a Cybersecurity Breach

Lowenstein Sandler LLP on 1/20/2022

Despite the great strides companies have made to mitigate the risks associated with security breaches, including putting insurance in place to cover those risks, cyber criminals have remained two steps ahead, finding new and...more

Do You Have a Risk-Based Sanctions Compliance Program?: In the Event of a Ransomware Attack, OFAC Wants to Know

Sheppard Mullin Richter & Hampton LLP on 10/5/2021

In the wake of increased ransomware attacks over the course of the last several months, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) has updated a guidance it released last year on potential...more

OFAC Releases Updated Ransomware Advisory and Announces First Designation of Cryptocurrency Exchange

K2 Integrity on 9/29/2021

On 21 September 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory that highlights the sanctions risks associated with making ransomware payments. OFAC reiterated...more

Bipartisan Senators Introduce Cyber Incident Notification Act of 2021

Pillsbury Winthrop Shaw Pittman LLP on 7/28/2021

The legislation would require all federal contractors to report potential and actual cybersecurity incidents to the Department of Homeland Security. The Act would impose a 24-hour reporting requirement on federal...more

Update on the State of Privacy Law in China

Sheppard Mullin Richter & Hampton LLP on 5/14/2021

China is continuing to move forward with its first comprehensive privacy law. China recently issued a second version of the draft Personal Information Protection Law (Draft PIPL) which will be open for public comments until...more

Paying or Facilitating Payment of Ransomware Demands May Result in Criminal and Civil Penalties From OFAC

Saul Ewing LLP on 10/9/2020

Companies that make or facilitate ransomware payments were given a strong reminder of their due-diligence and compliance obligations by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”). ...more

New DIFC Data Protection Law in Force - What You Need to Know

Akin Gump Strauss Hauer & Feld LLP on 10/2/2020

On October 1, 2020, the three-month grace period for businesses to comply with the Dubai International Financial Centre (DIFC) Data Protection Law (DIFC Law No. 5 of 2020) (“DPL 2020”) came to an end. Regulating the...more

China Cybersecurity Law Continues to Bring Enforcement Crackdown

Jones Day on 11/11/2019

The Situation: In the two years since China enacted the Cybersecurity Law, which granted authorities broad powers to monitor and investigate activities falling under its purview, authorities have increasingly penalized...more

The Scariest Data Privacy Breaches of 2019

Mitratech Holdings, Inc on 10/31/2019

With it being Halloween, October being National Cybersecurity Awareness Month, and 2019 drawing to an end, let’s take a look at the data privacy breaches giving compliance professionals a fright this year! ...more

Germany's Draft Bill on IT Security 2.0 – Extended BSI Authorities, Stricter Penalties and New Obligations on Providers

White & Case LLP on 7/15/2019

On March 27, 2019, the German Federal Ministry of the Interior (GMI) proposed a new bill (the "Draft Bill") for a so-called IT Security Act 2.0 (IT-SiG 2.0). In an effort to take a front-runner role in Europe, Germany has...more

Bombas Settles with NYAG Over Credit Card Data Breach

Sheppard Mullin Richter & Hampton LLP on 7/12/2019

Modern sock maker, Bombas, recently settled with New York over a credit card breach, agreeing to pay $65,000 in penalties. According to the NYAG, malicious code was injected into Bombas’ Magento ecommerce platform in 2014...more

China Issues New Rules Strengthening Local Authorities’ Power to Enforce Cybersecurity and Data Privacy Laws

Morgan Lewis on 10/30/2018

The Chinese Ministry of Public Security (MPS) on September 15, 2018, released the Provisions for the Supervision and Inspection of Network Security by Public Security Agencies, also known as “Circular 151.” This new...more

HIPAA and Accounting Cybersecurity Update

Winstead PC on 10/18/2018

It is a strange combination of events today, but two different agencies released reports on cybersecurity issues that all companies should consider when looking at their systems, controls and checks. The U.S. Department of...more

Internet of Things Part 2: Dogs, Cameras, and Cybersecurity

Jackson Walker on 7/6/2018

I recently purchased an Internet Protocol (IP) camera to monitor my dog, Ruben, during those times that he has free reign of the house. Since “RubenCam” has been online, I’m not sure he has been any less rambunctious, but I’m...more

SEC Hits Yahoo With $35M Fine

Manatt, Phelps & Phillips, LLP on 5/16/2018

Just weeks after publishing guidance on cybersecurity, the Securities and Exchange Commission (SEC) assessed a $35 million penalty against Yahoo! Inc. for allegedly misleading investors concerning a major data breach....more

Yahoo’s $35M SEC Settlement: Takeaways from the First Enforcement Action for Failure to Disclose a Data Breach

Fenwick & West LLP on 5/4/2018

The U.S. Securities and Exchange Commission announced on April 24, 2018, that Yahoo! — now known as Altaba — agreed to pay a $35 million penalty to settle claims that the company failed to timely disclose a 2014 data breach...more

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