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Iranians Hackers Targeted Control of New York Dam

The seven Iranian hackers that were indicted for conducting distributed denial of service attacks on banks also were charged with illegally accessing the supervisory control and data acquisition, or “SCADA,” system at a dam in New York State. This is reportedly the first time a breach in a U.S. computer system that controls critical infrastructure has been linked by the FBI to a hacker...

Data Sentinel: The Evolving Role of the Attorney as Protector of Company Data

Data. It is one of your organization’s greatest assets, and a necessary part of doing business. But in today’s financial services environment, it is also a source of one of your organization’s greatest risks. In their article for FinTech Law Report, Sutherland attorneys Michael Steinig and Mary Jane Wilson-Bilik describe the attorney’s evolving role in protecting company data, and...

Pros and Cons of the Payment Card Industry Data Security Standard

The Payment Card Industry Data Security Standard (the PCI DSS) establishes the self-described minimum data protection measures required of all entities involved in payment card transactions. The PCI DSS consists of 12 basic requirements, along with testing procedures and guidance designed to assist entities in meeting each requirement. The PCI DSS itself is not a law or regulation, and...

SEC Moves to Update Transfer Agent Rules; New Rules Likely to Impact Unclaimed Property and Cybersecurity

On December 22, 2015, the Securities and Exchange Commission took the first step in overhauling SEC regulation of transfer agents, the little-discussed but critical intermediaries involved in the prompt clearance and settlement of almost all U.S. securities. After many years in which other types of financial market intermediaries took center stage on the SEC’s rulemaking agenda, the...

Don’t be a Turkey: Recipes for a Successful and (Hopefully) Cyberattack-Free Thanksgiving

Thanksgiving is a time to give thanks for the important things in life: family, friends, health and (hopefully) not being hacked in the past year.  Those firms and compliance officers who followed our Top 10 Cybersecurity Resolutions for 2015 are hopefully in good shape to continue warding off cyberattacks in the coming year. But for those who haven’t taken to heart our suggested...

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