Category

Data Breaches

21 April 2020

U.S. Warns of Threat to Financial Industry Posed by North Korean Cyberattacks

The U.S. Departments of State, the Treasury and Homeland Security and the Federal Bureau of Investigation issued a joint advisory (the Advisory) on April 15, 2020, discussing the threat to the international community posed by cyberattacks linked to the Democratic People’s Republic of Korea (North Korea), in particular highlighting concerns for the financial services sector. North Korea has been subjected to comprehensive international sanctions implemented to pressure its government to denuclearize. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has implemented additional unilateral sanctions in response to other North Korean activities, including cyberattacks, human rights violations and money laundering. In addition to broad prohibitions on trade with North Korea, U.S. sanctions bar domestic financial institutions from conducting or facilitating any significant transaction in connection with trade with North Korea or on behalf of any person whose property has been blocked under executive orders imposing sanctions on North Korea. Foreign financial institutions risk secondary sanctions for engaging in the same. (more…)

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20 April 2020

UK Supreme Court Rules Morrisons Not Vicariously Liable for Malicious Data Breach by Employee

Case: WM Morrison Supermarkets plc v Various Claimants [2020] UKSC 12

In a decision that employers will welcome, the UK Supreme Court recently ruled that Morrison Supermarkets (Morrisons) was not vicariously liable for a data breach committed maliciously by a former employee who, acting to satisfy a personal vendetta against Morrisons, disclosed employee payroll data online.

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26 March 2020

WEBINAR – COVID-19 – European and U.S. Cybersecurity Issues: Preventing and Responding to Cyber Incidents

Join OneTrust DataGuidance and Sidley for a webinar discussing COVID-19 and European and U.S. cybersecurity and cyber risk insurance issues.

The COVID-19 global pandemic presents unique legal and practical challenges for companies across all industries, including with respect to cybersecurity risks and protections. There are increased cyber vulnerabilities from insider and external threat actors, including cyber attacks on individuals and companies.

In this webinar, we will highlight the dynamic and evolving cybersecurity threats companies face as a result of the pandemic, and the global legal implications of a cyber breach in this new environment – and how they can reduce these risks, and effectively respond to a cyber incident.

(more…)

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24 March 2020

COVID-19: Key EU And U.S. Cybersecurity Issues and Risk-Remediation Steps

The COVID-19 crisis has created significant cybersecurity risks for organizations across the world, particularly arising from remote working, scams and phishing attacks, and weakened information governance controls. These risks warrant attention by legal counsel and information security officers in light of potentially significant adverse legal, financial and reputational consequences that could arise – all while the organization is dealing with effects of a global pandemic.

In addition to identifying the cybersecurity risks, we also consider key measures that organizations can consider adopting to reduce such risks, including measures recommended by the UK’s National Cybersecurity Centre (NCSC), EU’s Agency for Cybersecurity (ENISA) and the US Federal Bureau of Investigation.  The speed at which the COVID-19 crisis has evolved has meant that many organizations have not been able to deploy effective risk-reducing measures in a timely manner.

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13 January 2020

New Guidance Published on Cybersecurity and Medical Devices

New European medical device guidance will require manufacturers to carefully review cybersecurity and IT security requirements in relation to their devices and in their product literature. This new guidance comes at the same time as a draft guidance on privacy by design has been published by the European Data Protection Board requiring product developers to implement privacy into the design of their products.

In December 2019, the Medical Device Coordination Group (MDCG) published its guidance on cybersecurity for medical devices (the Guidance). The MDCG is composed of representatives of all Member States and it is chaired by a representative of the European Commission. The Guidance is intended to assist medical device manufacturers meet the new cybersecurity requirements in the Medical Devices Regulation (MDR) and the In Vitro Diagnostic Regulation (IVDR) (collectively, the Regulations). In particular, the Guidance aims to assist with regard to both the pre-market and post-market requirements of the Regulations to ensure companies achieve “an adequate balance between benefit and risk during all possible operation modes of a medical device.”

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09 January 2020

ICO Delays British Airways and Marriott GDPR Fines

Further to the publication of the ICO’s notices of intention to fine British Airways and Marriott in July 2019, the ICO has recently issued a statement delaying the issuance of both GDPR fines which had originally been expected by the end of 2019. (The ICO’s initial notices of intention to fine had stated that British Airways would face a fine of £183m ($228m) and Marriott, a fine of £99m ($123m). We reported on these here: British Airways and Marriott.)

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10 December 2019

Fund Managers Targeted in Sophisticated Cyberattacks

There has been a spike in 2019 of targeted cyberattacks against Asia-based fund managers, especially those in a startup phase of business. Regulators worldwide, including the Securities and Futures Commission of Hong Kong, have issued guidelines for reducing and mitigating hacking risks. This post summarizes the practical measures that may be adopted to protect your firm against cyberattacks and the keys to successful crisis management in the event that an unauthorized data breach occurs. (more…)

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12 November 2019

Comments Submitted on California Consumer Privacy Act of 2020—Initiative 19-0021

As submitted for the comment period on Initiatives – Active Measures for Initiative 19-0021 on November 8, 2019.

Dear Mr. Mactaggart,

As privacy practitioners, we share your passion and dedication to the development of information privacy and data protection law in the United States. We acknowledge your achievement in pushing for the enactment of the California Consumer Privacy Act (CCPA) and contributing to the ongoing national conversation to advance privacy rights. Your commitment to these issues is clear, and we commend the seriousness of your work in addressing privacy rights in accordance with your vision.

We write in the spirit of constructive development of privacy regulation, and offer the following comments in the hope of contributing to the goal we share with you: improving the quality and effectiveness of U.S. privacy and data protection law while ensuring the continued innovation and flexibility that so benefit our society. Although we often advise the regulated community on privacy and data protection matters, the views expressed here are our own.

At the outset, we note that there are important improvements in your proposed initiative relative to the enacted CCPA. Many of your new initiative’s provisions could serve to move privacy and data security law in a positive direction. In this vein, we note the following: (more…)

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21 August 2019

Navigating the CCPA’s ‘Notice and Cure’ Provision

*This article was first published by Bloomberg Law in August 2019

Companies doing business with California consumers are impacted by the California Consumer Privacy Act (effective Jan. 1, 2020). The CCPA’s private right of action provision gives California residents the right to sue companies when their personal information is subject to unauthorized access and exfiltration, theft, or disclosure due to a company’s failure “to implement and maintain reasonable security procedures and practices.”

Under this provision, consumers may seek actual damages, declaratory or injunctive relief, and statutory damages, which begin at $100 and continue up to $750 “per consumer per incident.” The potential aggregated exposure through consumer class actions could be significant, and companies are searching for ways to mitigate private lawsuits.

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05 August 2019

New York Enacts Stricter Data Cybersecurity Laws

The flurry of state legislative activity in the wake of the enactment of the California Consumer Protection Act (CCPA) continues with the New York legislature recently passing two bills to increase accountability for the processing of personal information.  On July 25, 2019, Governor Cuomo signed the two bills into law, one which amended the state’s data breach notification law, and another that created additional obligations for data breaches at credit reporting agencies.  Together, the new laws require the implementation of reasonable data security safeguards, expand breach reporting obligations for certain types of information, and require that a “consumer credit reporting agency” that suffers a data breach provide five years of identity theft prevention services for impacted residents.  Meanwhile, the more comprehensive New York Privacy Act, which many viewed as even more expansive than the CCPA, failed to gather the necessary support in the most recent legislative session.

(more…)

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