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Earlier this year, North Dakota’s Governor signed HB 1127, which imposes new obligations for financial corporations operating in North Dakota. The law will take effect on August 1, 2025. From JacksonLewis, an explainer on the new law’s requirements for a comprehensive, written information security programs: Read more of the required elements at Workplace Privacy, Data Management & […]
PYMNTS reports: American banking groups want the Securities and Exchange Commission (SEC) to revoke its cybersecurity incident disclosure requirements. These groups, led by the American Bankers Association (ABA), wrote to the SEC last week, contending that disclosing cybersecurity incidents “directly conflicts with confidential reporting requirements intended to protect critical infrastructure and warn potential victims.” Joining the ABA were the Securities Industry […]
Mint reports: The website of Nippon Life India Asset Management Ltd, India’s largest mutual fund by number of investors, has been down since a cyberattack hit the company’s IT infrastructure on 9 April. When Mint visited the website on 17 April, the home page was accessible but the login page was not. The company wrote in an exchange filing […]
Fast Company reports: Several of the largest U.S. banks are reportedly pausing or reassessing how they send sensitive information to the Office of the Comptroller of the Currency (OCC) following a major cyberattack on the regulator. JPMorgan Chase and Bank of New York Mellon have halted electronic information-sharing with the OCC, Bloomberg reported. Bank of America […]
PayPal’s Cybersecurity Failures Led to the Exposure of Customers’ Social Security Numbers January 23, 2025 New York State Department of Financial Services Superintendent Adrienne A. Harris today announced that PayPal, Inc. (PayPal) will pay a $2 million penalty to New York State for violations of DFS’s Cybersecurity Regulation. An investigation determined PayPal failed to use qualified […]
On November 28, Reuters reported: A senior official at Uganda’s finance ministry confirmed that accounts in the country’s central bank had been hacked but he downplayed the extent of the losses. The Bank of Uganda had said late on Thursday it was awaiting a police investigation into a news report that offshore hackers stole 62 […]
Ilya Lichtenstein was sentenced today to five years in prison for his involvement in a money laundering conspiracy arising from the hack and theft of approximately 120,000 bitcoin from Bitfinex, a global cryptocurrency exchange. His sentencing was announced by the U.S. Department of Justice. According to court documents, Lichtenstein, 35, hacked into Bitfinex’s network in […]
It seems like everything is “AI” these days, but there’s also an increasing awareness of the flaws or risks in using AI for some purposes, including AI making up things that just aren’t true (called “hallucinations”). But there are also cybersecurity risks. From Covington and Burling: On October 16, 2024, the New York Department of […]
Bleeping Computer reports that Interbank has confirmed a data breach after a threat actor started leaking data online. Even though the bank has yet to disclose the exact number of customers whose data was stolen or exposed in the breach, as first spotted by Dark Web Informer, a threat actor who uses the “kzoldyck” handle is […]
Brian Montgomery is a partner at Pillsbury and a former NYDFS deputy superintendent. Mark Krotoski is a partner at Pillsbury and former national coordinator for the Computer Hacking and Intellectual Property Program at the Department of Justice. In an article on Bloomberg Law, they write: Cybersecurity regulations can be a constantly moving target, with digital advances and […]
