A press release from the FDIC on December 18: Federal financial regulatory agencies today announced a proposal that would require supervised banking organizations to promptly notify their primary federal regulator in the event of a computer security incident. In particular, alerts would be required for incidents that could result in a banking organization’s inability to…
Category: Federal
Federal financial regulators propose computer-security incident notification for banks
Sindhu Ajay reports: The US Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation Friday proposed a new computer-security incident notification requirement for banking organizations and their bank service providers. The proposed rule would require a banking organization to provide its primary federal regulator a prompt notification of…
In wake of horrific Vastaamo breach, Finnish government tables laws to protect data from cyber criminals
Gerard O’Dwyer reports: The huge data security breach and cyber-ransom attack at Finland’s Vastaamo Psychotherapy Centre has provoked a swift response from the government, which is primed to introduce more rigid laws and measures to protect the country’s databases and sensitive information from cyber criminals. […] In a significant bolstering of Finland’s data security laws,…
OCR Releases Its 2016-2017 Audit Report on Health Care Industry Compliance with the HIPAA Rules
Today, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human Services (HHS) released its 2016-2017 HIPAA Audits Industry Report that reviewed selected health care entities and business associates for compliance with certain provisions of the HIPAA Privacy, Security, and Breach Notification Rules. The Health Information Technology for Economic and Clinical…
Company that Provides Travel Emergency Services Settles FTC Allegations it Failed to Secure Sensitive Consumer Data
It feels like it’s been a while since we’ve seen an FTC data security case (well, apart from Zoom’s issues). Today, FTC issued a press release about a settlement stemming from SkyMed International’s misconfigured elastic search instance that exposed more than 130,000 people’s information. The exposed data were discovered by Jeremiah Fowler and reported in…
Regulatory Crackdown on Ransomware
Seetha Ramachandran, Nolan Goldberg and Hena M. Vora of Proskauer write: It is increasingly common for Ransomware attacks to be associated with large sophisticated cyber-criminal organizations, with a central entity providing the tools, training, and ability to collect ransoms and sending its “associates” out to cause harm. As long as victims continue to pay ransoms, Ransomware…