Cybersecurity

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Ransomware attacks have become one of the most common and pervasive cybercrimes perpetrated against U.S. companies. A bad actor, often from overseas, will gain access to upload malware onto a company’s network storage or application platforms that encrypts all files it can access. A message or text file is usually left with instructions on how to contact the attacker to pay a ransom for the decryption key. In the worst case, a ransomware attack can freeze the business operations by effectively removing access to the company’s critical systems and rendering them useless. Aside from the business impact, what legal implications are created by a ransomware attack?

Privacy

The greatest legal concern is one of privacy. By definition, ransomware attacks gain access to the internal systems maintained or owned by a business. However, not all ransomware attacks are created equal and privacy obligations differ from one attack to another.

Continue Reading Ransomware Attacks – Harmless Annoyances or Catastrophic Events?
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Introduction

On March 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) proposed mandates for cybersecurity disclosures by public companies. If adopted, these mandates seek to provide investors a deeper look into public companies’ cybersecurity risk, governance, and incident reporting practices. SEC chair Gary Gensler noted in a statement regarding the proposed mandates that cybersecurity incidents continue to become a growing risk with “significant financial, operational, legal, and reputational impacts.”

“The interconnectedness of our networks, the use of predictive data analytics, and the insatiable desire for data are only accelerating, putting our financial accounts, investments, and private information at risk. Investors want to know more about how issuers are managing those growing risks.” – Gary Gensler, SEC Chairperson

Continue Reading SEC Proposes Mandatory Cybersecurity Disclosures by Public Companies
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Introduction

On March 15, 2022, President Biden signed into law the Cyber Incident Reporting for Critical Infrastructure Act of 2022. The Act will require critical infrastructure organizations (defined below) to report cyber attacks to the Cybersecurity and Infrastructure Security Agency (CISA) within 72 hours. The Act also creates an obligation to report ransomware payments within…

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On February 2, 2022, U.S. Rep. Bobby L. Rush introduced the Right to Equitable and Professional Auto Industry Repair (REPAIR) Act, H.R. 6570 (the “Act”), legislation that would require OEMs to make vehicle-generated data more available to vehicle owners. The Act also would pave the way for the Federal Trade Commission (FTC) and National Highway…

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Earlier this month, the New York Attorney General’s Office issued findings of its investigation into a data security incident involving EyeMed Vision Care LLC (“EyeMed”) as well as the agreement that it entered into with the company in exchange for not pursuing further statutory charges.[1] The settlement included a fine of $600,000, a marked…

Seyfarth Synopsis:  On May 12, 2021, President Joe Biden issued a very broad, 34 page “Executive Order on Improving the Nation’s Cybersecurity.” The Executive Order, or “EO”, can be found here. This order comes six months after the notorious SolarWinds attack, and mere weeks after other high-profile attacks have invaded our networks, and shut

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There have been seminal events in the cybersecurity space since 2012, but there has likely been no event in recent times bigger than the SolarWinds attack which was first announced in December 2020. Though it likely had “nation-state” origins, the SolarWinds attack raised a number of serious issues for US companies and indeed the US…

From court closures and the way judges conduct appearances and trials to the expected wave of lawsuits across a multitude of areas and industries, the COVID-19 outbreak is having a notable impact in the litigation space—and is expected to for quite some time.

To help navigate the litigation landscape, we are kicking off a webinar…

In this unprecedented time, businesses are, more than ever, implementing and rapidly rolling out programs for remote or at-home work by employees. The quick changes in local and state governmental “shelter in place” instructions and Public Heath directives have placed significant strains on remote networks and caused local shortages of laptop computers at office supply and electronic stores across the country.

With this unexpected increase in remote workers, many companies are pushing the limits of their existing remote access technology, or deploying ad hoc technology and access solutions as quickly as possible. Some of those companies are not taking the time to consider potential information security, privacy, and other compliance ramifications for those same remote workers.

It is entirely appropriate and necessary for companies to adapt their technology and work networks are utilized to the greatest degree possible to remain in operation and serve business and customer needs. But as always, data security and privacy should always be part of the equation.

Below are some essential things to know about the security risks posed by remote or at-home worker, and a Technical Checklist for Remote employees to make sure your corporate data is safe, and you do not risk compliance challenges with data privacy law and requirements.
Continue Reading Cybersecurity, Data Privacy, and Compliance Issues Related to Remote Workers

Seyfarth has released the results of its fourth annual Real Estate Market Sentiment Survey, which polled commercial real estate executives around the country from all sectors. Of interest to our readers, this year’s survey revealed that 69% of respondents are concerned about a cyberattack hitting their business in 2019, a significant increase compared to last year (46%).

View the full survey results

Cybersecurity isn’t just for technology companies anymore. More and more, we are seeing other critical infrastructure participants becoming targets of cybersecurity attacks. Transportation, construction, and other real property-heavy industries are starting to catch the eye of sophisticated hacking teams – both criminal as well as nation-state sponsored groups.

There are two different threat models in the real estate market: the builder and the manager.
Continue Reading Cyberattacks a Growing Concern for Commercial Real Estate Executives