Note: This post was originally posted in our Southeast Financial Litigation Monitor.
Gregory C. Cook & Brandon N. Robinson
The story is becoming all too common. A merchant (or consumer) is convinced to wire money to a fraudulent account because of an incorrect belief that they are wiring the money to the real party.
The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement providing guidance for financial institutions about the role of cyber insurance in risk management of informational technology systems. The FFIEC comprises the principals of the following: The Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration,
On February 21, 2018, the Securities and Exchange Commission (SEC) published a release entitled “Commission Statement and Guidance on Public Company Cybersecurity Disclosures” (“Release”). Designed to assist public companies in preparing disclosures concerning cybersecurity risk and incidents, the release expands upon the SEC’s previous guidance in 2011 to emphasize particular areas, including board
On December 28, 2016, the New York State Department of Financial Services (NYDFS) updated its proposed cybersecurity regulation to protect New York State. The proposed regulation is effective March 1, 2017, and requires banks, insurance companies and other financial services institutions regulated by DFS to establish and maintain a cybersecurity program designed to protect
