Legal News, Cyberattack, News
December 17, 2024
1040 views 3 mins 0

SEC Charges Flagstar for Misleading Investors About Cyber Breach

ADMINISTRATIVE PROCEEDINGFile No. 3-22360 December 16, 2024 – The Securities and Exchange Commission today filed settled charges against Flagstar Bancorp, Inc. (now known as “Flagstar Financial, Inc.”), for making materially misleading statements regarding a cybersecurity attack on Flagstar’s network in late 2021 (the “Citrix Breach”). The SEC’s order finds that Flagstar negligently made materially misleading statements […]

Commentaries and Analyses, Legal News, News
December 10, 2024
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Should regulators do more naming and shaming?

The U.K. Information Commissioner’s Office did an interesting two-year trial and the results suggest that publicly reprimanding public sector entities over breaches and data leaks is an effective strategy — even without any monetary penalties. Infosecurity Magazine reports: The publication of reprimands following data leaks has been cited as an “effective” deterrent for public authorities. […]

Legal News, Malware Ransomware
December 03, 2024
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Wanted Russian Hacker Linked to Hive and LockBit Ransomware Arrested

The Hacker News reports that a notorious Russian cybercriminal wanted in the U.S. in connection with LockBit and Hive ransomware operations has been arrested: According to a news report from Russian media outlet RIA Novosti, Mikhail Pavlovich Matveev has been accused of developing a malicious program designed to encrypt files and seek ransom in return for a […]

Legal News, Healthcare
November 10, 2024
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HIPAA Gets a Potential Counterpart in HISAA

Legislation proposed in September would mandate minimum cybersecurity requirements in the healthcare sector. Kevin Wood, the Chair of Winstead’s Healthcare Industry Group, writes: …. Senators Ron Wyden (D-OR) and Mark Warner (R-VA) introduced the Health Infrastructure Security and Accountability Act (HISAA) on September 26, 2024. Like HIPAA and HITECH before it, which established minimum levels […]

Legal News
November 06, 2024
471 views 6 mins 0

South Korea fined Meta $15.67M for illegally collecting and sharing Facebook users’ information

South Korea’s Personal Information Protection Commission has fined Meta 21.61 billion won for leaking the personal information about its users without their consent. That’s $15.5 million at today’s conversion rate. Joong Ang Daily reports: The Personal Information Protection Commission (PIPC) said Meta had collected such information about 980,000 users located in Korea via their Facebook […]

Legal News
November 03, 2024
936 views 6 mins 0

 Cybercrime: Arrests in Hesse and Rhineland-Palatinate

Bundeskriminalamt (BKA) announced the seizure of two websites and two arrests: In an internationally coordinated operation by the Central Office for Combating Internet Crime ( ZIT ) of the Public Prosecutor General’s Office in Frankfurt am Main, the Hessian State Criminal Police Office ( HLKA ) and the Federal Criminal Police Office ( BKA ) on suspicion of various cybercrime offenses, officers of the HLKA executed […]

Legal News, Healthcare
October 29, 2024
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Exemptions from the Drug Supply Chain Security Act Enhanced Drug Distribution Security Requirements

Christopher R. Smith of Epstein Becker & Green, P.C. writes: On July 12, 2024, the FDA provided small dispensers—those employing 25 or fewer full-time pharmacists or pharmacy technicians—with an exemption from the Drug Supply Chain Security Act’s (“DSCSA”) enhanced drug distribution security (“EDDS”) requirements until November 27, 2026.[1]  The FDA had previously announced a stabilization period effectively delaying […]