The Justice Department unsealed charges related to the 2011 hack of the cryptocurrency exchange Mt. Gox and the operation of the illicit cryptocurrency exchange BTC-e. According to court documents, Alexey Bilyuchenko, 43, and Aleksandr Verner, 29, both Russian nationals, are charged with conspiring to launder approximately 647,000 bitcoins from their hack of Mt. Gox. Bilyuchenko…
Category: Financial Sector
Jm: Mayberry clients urged to act fast after cyberattack by PLAY gang
Neville Graham reports: With no indication of the extent of a data breach and cyberattack at investment firm Mayberry, the company yesterday urged clients to take immediate steps to protect themselves “against any possible adverse consequences”. In its second notice to its clients since Friday night, Mayberry yesterday asked them to actively monitor all accounts…
Update on GLBA Safeguards Rule in Higher Education
Benjamin Wanger and Pierce T. Cox of BakerHostetler write: On February 9, 2023, the Department of Education Office of Federal Student Aid (“FSA”) issued an electronic notice regarding the Federal Trade Commission’s Final Rule amending the Standards for Safeguarding Customer Information (“Safeguards Rule”) under the Gramm-Leach-Bliley Act (“GLBA”). The amendments to the Safeguards Rule, which go into…
NYSDFS Fines Lender and Mortgage Servicer $4.25M for Cybersecurity Failures Including Vendor Management
Joseph Lazzarotti of JacksonLewis writes: Yesterday, New York’s Department of Financial Services (“DFS”) announced another enforcement action under the state’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”). According to the press release, OneMain Financial Group LLC (“OneMain”) will pay a $4.25 million penalty to New York State for alleged violations of Reg 500. In…
Following Lockbit Ransomware Hacking, BSI Fires Director of IT and Risk Management
Ruetir reports: PT Bank Syariah Indonesia Tbk or BSI at the Annual General Meeting of Shareholders (AGMS) in Jakarta, Monday (22/5/2023) decided to appoint a new Director of Information Technology (IT) and Director of Risk Management, namely Saladin D. Effendi and Grandhis Helmi H. . Previously, the Director of Information Technology (IT) was held by…
Only months after dealing with one problem, Academy Mortgage gets hit with a ransomware attack
Months after agreeing to pay $38.5 million to settle federal charges it violated the False Claims Act by improperly originating and underwriting mortgages insured by the Federal Housing Administration, Utah-headquartered Academy Mortgage now finds itself in the also-unenviable position of having its sensitive files dumped on the dark web by the AlphV (BlackCat) ransomware group….