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Historic Charges: First Enforcement Action Filed by New York Department of Financial Services Under Cybersecurity Regulation

Data Matters

On July 21, 2020, the New York State Department of Financial Services (NYDFS or the Department) issued a statement of charges and notice of hearing (the Statement) against First American Title Insurance Company (First American) for violations of the Department’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R.

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CENTRAL BANK DIGITAL CURRENCIES

Thales Cloud Protection & Licensing

As explained by the Bank of England [1] “£10 of a UK digital currency would always be worth the same as a £10 note”. Payments evolution and a CBDC origin One of the fairly recent and significant evolutions in digital payments was introduction of open banking that has increased competition and innovation in the financial sector.

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SEC Announces Settled Charges Against First American for Cybersecurity Disclosure Controls Failures – Lessons Learned

Data Matters

In the Order, the SEC alleges that First American’s disclosures concerning the vulnerability were deficient because senior executives were not provided all available and relevant information, specifically that First American’s information security personnel had identified and failed to remediate the vulnerability months earlier in January 2019.

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An Approach to Cybersecurity Risk Oversight for Corporate Directors

Data Matters

Recent guidance from the Securities and Exchange Commission (SEC) on disclosure and enforcement actions by the Federal Trade Commission (FTC) make clear that cybersecurity is no longer a niche topic, but a concern significant enough to warrant the oversight of corporate boards of directors.

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Nation-State-Sponsored Attacks: Not Your Grandfather’s Cyber Attacks

Data Matters

It used to be that data breaches were all about cyber-crooks hacking computer systems to steal personal information, followed by an affected company sending regretful notification letters offering a year or two of complimentary credit monitoring. All rights reserved. and Allied cyberspace assets. supply chain attacks).