Encryption Isn’t Your Only Ransomware Problem – There Are Some Other Nasty Issues

Ransomware has become one of the most dreaded problems in the cyber world and it’s only getting worse. Much worse! Traditionally, ransomware was a trojan horse malware program which when it found a new host computer simply went off, encrypted all the data it could find, and sent the user an onscreen message to pay a […]

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Have I Thought of Everything When It Comes to OFAC?

This is one of those questions that keep OFAC Officers up at night. Due to the complexity of the OFAC sanctions and the scope of application, it is a challenge to create a robust program and think of everything. However, with the potential of fines with even one violation, and the size of fines being issued for multiple violations, it is imperative that financial institutions have a strong OFAC program. A strong program must […]

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New York Cybersecurity Requirements for Banks and Financial Institutions

On March 1, 2017, the New York State Department of Financial Service’s (the “DFS”) final cybersecurity regulations became effective (see 23 NYCRR § 500). These rules were originally published on September 13, 2016. Just before the end of the year, the DFS published another proposed regulation that eased somewhat the requirements of the original proposal […]

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