Data Security

The Impact of Data Security Incident Trends on Commercial Transactions

The 2021 edition of BakerHostetler’s annual Data Security Incident Response Report – a report based on the firm’s experience with data security incident response and litigation over the past year – features a number of important insights previously covered on this blog including trends in global breach notification, healthcare industry risks and ransomware. The Report is a helpful tool for companies…
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Cybersecurity

How Cybersecurity Frameworks Can Protect Your Organization (Even in the Event of a Breach)

It’s certainly no secret how damaging data breaches can be for organizations today. And if lost revenue and a tarnished reputation aren’t enough to make you want to act, your organization could face punitive damages if you fail to protect your customers’ private information. Yes, that’s right—steep fines imposed by regulatory agencies can await those…
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SEC

SEC Doubles Down on Safeguards Rule Enforcement

The Securities and Exchange Commission issued sanctions against three financial services companies last week. The sanctions came in response to a series of email-takeover attacks in which Personally Identifiable Information (PII) was exposed.  In each case, the SEC found that the firms failed to implement proper cybersecurity measures against breaches. Each firm was found responsible…
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Cybersecurity

Infrastructure Bill Allocates Nearly $2 Billion to Cybersecurity 

On Tuesday, the U.S. Senate approved a $1 trillion infrastructure package, which it has passed along to the House for approval. The package includes a variety of bills that allocate spending toward critical infrastructure, including roads, railways, bridges, electric vehicles, and telecom companies. The package also allocates more than $1.9 billion toward cybersecurity. The move…
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Data Breach

Key Takeaways From Verizon’s 2021 Data Breach Report

If you haven’t combed through all 119 pages of Verizon’s 2021 Data Breach Investigations Report, that’s understandable. However the report contains valuable insight for compliance professionals, so ADCG pulled out the relevant takeaways–like the fact that banks are the most commonly discussed target in hacker forums and marketplaces, and that financially motivated cybercrime is on…
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2020 News in Review

Week Ending December 28  ICO Warns SolarWinds Victims to Report Breaches  The United Kingdom’s Information Commissioner’s Office (ICO) has issued a warning to organizations compromised by the SolarWinds breach. The breach, which was carried out by Russian hackers, affected more than 18000 organizations worldwide. ICO requires UK data controllers subject to NIS regulations to report…
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What We Can Learn From the SolarWinds Breach

SolarWinds, a network management software company, found itself the direct victim of an insidious malware breach last week that had been in the works for months. The hack involved the installation of malware onto an updated version of their software, which was downloaded by over 18,000 customers, including approximately 421 Fortune 500 companies–and large swaths…
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Does Your Organization Need A Chief Privacy Officer

Does Your Organization Need a Chief Privacy Officer?

As the presence of global data privacy legislation continues to rise, so does the importance of privacy-related positions. The EU’s General Data Protection Regulation (GDPR) mandates that companies hire a Data Protection Officer, and related roles like Chief Information Security Officer (CISO) have also become more valued. One of the most concrete action items a…
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New Zealand’s Data Privacy Law Now Effective

On December 1, New Zealand’s new data privacy law took effect.  The Privacy Act 2020 impacts every organization with a physical or virtual presence in New Zealand. Any offshore organization that collects data from New Zealanders must comply.  This marks the suspension of 1993’s Privacy Act and puts the pressure on organizations to handle data…
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