Tag Archives: cyber attack

Will the proposed “Countering Russian Hostilities Act” stop Russian cyberattacks?

On Jan. 10, 2017, a bipartisan group of five Republican and five Democratic senators announced their support for the Countering Russian Hostilities Act of 2017. Lindsey Graham, one of the senators who announced the proposed legislation, told The Wall Street Journal that he is confident the bill will get overwhelming support.[1] One reporter agreed, stating … Continue Reading

$90 Million Cyber Thefts From Banks Using SWIFT Network Raise Security Issues

In February 2016, attackers stole $81 million from the Bangladesh central bank’s account at the New York Federal Reserve Bank by hacking into the Bangladesh bank’s computer network and sending fraudulent messages through the Society for Worldwide Interbank Financial Telecommunication (SWIFT) payment network. In January 2015, attackers netted $9 million in funds from an Ecuadorian … Continue Reading

Colleges and Universities Are Prime Cyberattack Targets: What’s Behind the Threat?

When it comes to cyberattack targets, many think of retailers and associated credit card transactions or customer information, or perhaps healthcare providers with their ever-increasing storage and transmission of electronic information related to patients. But colleges and universities are increasingly under siege from hackers. In fact, the education sector, according to recent reports, comes in … Continue Reading

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment advisers with information on the focus areas of its upcoming round of cybersecurity examinations. OCIE is building on its previous cybersecurity examinations to increase … Continue Reading

What You Should Be Doing Now to Prepare for Implementation of the Cybersecurity Executive Order

Co-Authored by: Theodore J. Kobus III A tempting response to the Cybersecurity Executive Order (the “Order”), announced by President Obama at his State of the Union address, is to ignore it.  It is vague in key particulars, such as which companies are part of the “critical infrastructure” and therefore subject to the Order.  The only … Continue Reading

The Cybersecurity Act of 2012–What Does It Mean?

Yesterday, Homeland Security and Governmental Affairs Committee Chairman Joe Lieberman (ID-Conn.), Ranking Member Susan Collins (R-Maine), Commerce Committee Chairman Jay Rockefeller (D-W.Va.), and Select Intelligence Committee Chairman Dianne Feinstein, D-Ca. introduced The Cybersecurity Act of 2012.  The press release can be found here. We are seeing an increasing number of attacks targeting government secrets, trade … Continue Reading
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