Kate Hanniford of Alston & Bird writes: On July 10, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert noting the increasing sophistication of ransomware attacks on SEC registrants and service providers to SEC registrants. The Risk Alert is notable for its encouragement of financial services market participants more broadly and not just…
Category: Financial Sector
Italian Garante Fines Bank 600,000 Euros for Pre-GDPR Data Breach
Hunton Andrews Kurth writes: The Italian Data Protection Authority (Garante per la protezione dei dati personali, “Garante”) recently announced that it levied a €600,000 fine on banking institution UniCredit for several violations of the Italian Personal Data Protection Code, in its pre-General Data Protection Regulation (“GDPR”) form. The sanction was imposed following a data breach that took…
Hakbit ransomware campaign targeting specific European countries
Derek Kortepeter reports: Proofpoint researchers have published findings on a campaign involving the Hakbit ransomware. As their blog post states, the ransomware is being spread via spear-phishing emails targeted at individuals in “mid-level positions across the pharmaceutical, legal, financial, business service, retail, and healthcare sector.” The attacks, described as low-volume, are specifically targeting employees of organizations located in…
U.S. Deports Russian Hacker Convicted Of Stealing Almost $1 Million
There’s an update to a case previously noted on this site. From RadioFreeEurope/RadioLiberty: The United States has deported a Russian hacker who was sentenced to 48 months in prison for stealing hundreds of thousands of dollars from online banking accounts using malicious software known as NeverQuest. Officials from the Russian Embassy in the United States…
China launches cyber attacks on government websites and banks following India massacre
Grace Macrae reports: China has opened another front against India with sustained cyber attacks targeting government websites and banking systems. The Chinese DDOS (distributed denial of service) attacks have targeted information websites and the country’s financial payments system. DDOS attacks are malicious attempts to overwhelm a network by flooding it with artificially created internet traffic….
KR: Police Launch Probe into Possible Leak of Credit Card Data
KBS reports that Seoul police are investigating a “possible massive leak” of data of local credit and debit cards. Police said on Monday that they seized two external hard drives from a suspect surnamed Lee, who allegedly attempted to hack into the computer network of a local commercial bank last year. The seized hard drives…