Tag Archives: cybersecurity

4 Compliance Tips Amid Increased Ransomware Scrutiny

In light of two new US Treasury Department advisories signaling increased oversight of ransomware payments, victim companies and their third-party response teams considering making payments should follow certain due diligence and compliance best practices, write Colin Jennings, Ericka Johnson, Dylan Yépez and Elizabeth Weil Shaw in an article for Law360.… Continue Reading

Ransomware Payments can lead to Sanctions and Reporting Obligations for Financial Institutions

With cybercrime on the rise, two U.S. Treasury Department components, the Office of Foreign Assets Control (“OFAC”) and the Financial Crimes Enforcement Network (“FinCEN”), issued advisories on one of the most insidious forms of cyberattack – ransomware.… Continue Reading

FinCEN Director Blanco Encourages Increased Communication During Global Pandemic

In remarks to the Association of Certified Anti-Money Laundering Specialists (“ACAMS”), Kenneth A. Blanco, the Director of the U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”), covered a number of high-priority topics, including FinCEN’s response to the pandemic, the latest COVID-19 related fraud schemes, emerging cyber threats, virtual currency issues, and important regulatory updates.  A theme … Continue Reading

Lying in Wait: Cybercriminals’ COVID-19 Tactic

As business slowly and cautiously reopens, cybercriminals lie in wait.  A case study into a massive unemployment insurance fraud shows that cybercriminals patiently hunt for  lucrative opportunities to strike.  For that reason, companies reopening should consider conducting a cyber-audit to identify their cyber vulnerabilities and thwart cybercriminals lying in wait.… Continue Reading

Threat of Iranian Cyberattack Matters to Your Organization

The ongoing Iran-US tensions, and potential for retaliatory cyberattacks, alert each organization to prepare to defend against a cyberattack. Iran has a history of sophisticated cyberattacks in response to increased tensions. In a new client alert, our Data Privacy & Cybersecurity team recommends a thorough review of your people, facilities, networks, and data procedures in response … Continue Reading

SEC’s 2018 Exam Priorities Reflect Continued Focus on Cybersecurity

Annually, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) publishes its examination priorities for the new year.  Recently, OCIE announced five priorities that will inform its examinations moving in to 2018. OCIE is committed to “promoting compliance, preventing fraud, identifying and monitoring risk, and informing policy.” In support of these “pillars,” … Continue Reading

The SEC’s New Year’s Resolutions: Retail Investors and Cybersecurity

2018 arrived in the wake of big changes at the U.S. Securities and Exchange Commission (“the SEC”).  Jay Clayton was sworn in as Chairman of the Commission in May, naming Steve Peikin and Stephanie Avakian as Co-Directors of the Enforcement Division (the “Division”) in June.  As many do for the start of a new year, … Continue Reading
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