Robinhood Markets said its cryptocurrency platform might face a penalty of “at least” $10 million from the New York State Department of Financial Services for anti-money laundering and cyber-security failures.
British Airways has settled one of the U.K.’s largest group actions after thousands of people sought compensation following a 2018 data breach that resulted in the airline being fined under the GDPR.
Two risk and compliance practitioners opened their cyber-playbooks at CW’s TPRM virtual event, explaining how to identify and address vulnerabilities, establish transparency with vendors, and strengthen an organization’s incident management program.
The New York State Department of Financial Services has issued guidance for regulated entities describing best practices for reducing the risk of a ransomware attack.
With many businesses still sorting through the new layers of risk that have emerged over the last 16 months, Linda Tuck Chapman of the Third Party Risk Institute shared her top areas of focus and more at CW’s virtual TPRM event.
Multiple high-profile companies—including Carnival, Wegmans, McDonald’s, Volkswagen, and CVS—have confirmed in recent days they were either victims of a data breach or were alerted to a gap in their security controls.
First American Financial Corp. reached a $487,616 settlement with the SEC for failing to maintain cyber-security disclosure controls and procedures that exposed more than 800 million title insurance records containing sensitive customer information.
The SEC’s spring 2021 rulemaking list is brimming with proposed regulations that would enhance ESG-related disclosures for public companies in areas like climate change, board diversity, human capital management, and cyber-security risk governance.
Meatpacker JBS USA announced it paid the equivalent of $11 million in ransom in response to a May cyber-attack that impacted its operations in North America and Australia.
Meatpacker JBS USA has become the latest critical infrastructure company to be targeted by a ransomware attack, which temporarily halted its global operations. The attack brings with it implications for the food and agriculture industries.
President Biden’s executive order on cyber-security largely applies to federal agencies. But its core message—that the public and private sectors must collectively defend against increasingly malicious ransomware attacks—should not be lost on companies.
A recent survey of 100 executives from Fortune 500 companies found more than half are struggling to balance easy access to company data with privacy and security compliance under laws like the GDPR and CCPA.
The National Institute of Standards and Technology is seeking comment on a revised version of its cyber supply chain risk management guidance that is intended for a broader audience of public and private companies.
Organizations are adopting digital transformation and, as a result, increasing their reliance on third parties faster than they can scale their third-party cyber-risk management programs.
GWFS Equities will pay $1.5 million as part of a settlement with the SEC for lapses in the filing of suspicious activity reports related to the threat of cyber-breaches.
Former FBI Director James Comey kicked off Compliance Week’s 16th annual National Conference on Tuesday by speaking candidly about a variety of risk and compliance matters, including the importance of a strong ethical culture in the coming post-pandemic “boom times.”
With various levels of defined risk and the potential for steep fines for offenders, the European Commission’s recent proposal to ensure trust in the use of artificial intelligence should receive urgent attention from industries beyond Big Tech.
The hybrid work environment many organizations are expected to utilize as part of the gradual return to the workplace presents numerous cyber-security risks that require proactive attention.
The threat of fines has done more to focus boardroom attention on data privacy and effective cyber-security than any other measure, U.K. Information Commissioner Elizabeth Denham believes.
It isn’t surprising to see Facebook think it doesn’t have an ethical obligation to alert users to its latest data leak, writes Kyle Brasseur, but it is disappointing knowing the company now has a chief compliance officer in place.
The Treasury Department announced sanctions against Russia implemented under an executive order from President Joe Biden in response to the SolarWinds hack and alleged election interference by the country.
Aaron Nicodemus applauds outgoing SEC whistleblower chief Jane Norberg for “revolutionizing” the program and the agency, while Kyle Brasseur laments Facebook’s ethical bungling of its recent data leak.
The Irish Data Protection Commission has launched an inquiry into Facebook over concerns the social media giant may not have properly disclosed the full extent of its recent data leak.
Old personal data of more than 533 million Facebook users was recently made publicly available on a hacker forum. Could the social media giant face a new investigation under the GDPR in response?
The Irish Data Protection Commission has reached out to Facebook seeking to determine whether the social media giant’s weekend data breach should receive scrutiny under the General Data Protection Regulation.
Cyber-breach disclosures in 2020 were down 19 percent from 2019—the first drop in the statistic in five years, according to a new report from Audit Analytics.
Online reservation Website Booking.com has been fined €475,000 (U.S. $557,000) by the Dutch Data Protection Authority for reporting a data breach 22 days later than the 72 hours required under the GDPR.
Aly McDevitt assesses controversial data breach disclosures from U.K. retailer FatFace and technology vendor Ubiquiti in light of a report Congress is considering stricter requirements for reporting data breaches.
Former FBI Director James Comey predicted a “time of extraordinary change” is ahead for the compliance profession in the post-pandemic world during a prerecorded video message at Compliance Week’s Financial Crimes virtual event.
Nathan Anderson, senior director of internal audit at McDonald’s, discusses ways internal audit can better answer management questions about cyber-risks and become a more independent cyber-security testing function overall.
It’s a clean sweep: All five CCOs we spoke with are in favor of U.S. federal data privacy legislation. Read on for the reasoning behind their answers.
The New York State Department of Financial Services fined Residential Mortgage Services $1.5 million for violating New York’s cyber-security regulation.
Five senior compliance practitioners outline their strategies for protecting their firms from data breaches.
Five senior compliance practitioners tell Compliance Week how their organizations are reacting to new cyber-threats introduced by the pandemic.
Five senior compliance practitioners share insights on their roles in implementing and overseeing cyber-security policies and procedures.
LifePoint Health’s VP for Compliance Program Operations/Chief Privacy Officer Ellen Hunt and VP/CISO Andy Heins share how they work ”hand in glove” to protect their company’s data from bad actors.
Threat Intelligence is normally used to enrich the process of security assessment, providing proof on the enforcement of security controls required to be secure and compliant.
As cyber-attacks surge, the need for cyber-insurance is growing more urgent. But it’s critical for companies to first familiarize themselves with how to navigate the labyrinth of cyber-insurance products on the market so that they are properly covered.
Two months after cloud service vendor Accellion first identified one of its legacy products was targeted by a sophisticated cyber-attack, users of the product continue to feel the impact, with grocery chain Kroger the latest to reveal its exposure.
Companies forced to pivot to remote work in a global health crisis spent the bulk of 2020 grappling with heightened cyber-security risks. A year later, compliance practitioners say their companies’ cyber-security postures are better for it—even in the wake of the stunning SolarWinds hack.
Today’s breach landscape is unprecedented and complex. Every organization is facing potential enforcement of many interconnected and overlapping laws in multiple jurisdictions.
The Financial Industry Regulatory Authority has published a new report designed to help inform member firms’ compliance programs by providing annual insights from its examinations and risk monitoring programs.
The aftermath of the coronavirus pandemic dominates the top risks that will keep boards of directors and executive management teams on their toes in 2021, a new survey by Protiviti and NC State’s ERM Initiative finds.
CyberGRX and Ponemon Institute surveyed 581 IT security and 302 C-suite executives to determine what impact digital transformation is having on cybersecurity and how prepared organizations are to deal with that impact.
The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.
Companies must make cyber-security a continuous priority as threats evolve, often more quickly than the technology and regulations to counter them. That’s why the New York Department of Financial Services, under Maria Vullo, developed a policy that should act as a model for organizations.
The financial services industry is a leading target for cyber criminals because there’s more than one way one way to profit from an attack.
What’s most important for compliance officers is to understand the risks breaches and hacks pose to their organizations, not the technical manner of how those breaches occur, according to an expert panel at CW’s virtual Cyber-Risk & Data Privacy Summit.
Experts at CW’s virtual Cyber-Risk and Data Privacy Summit explain the importance for companies to review and enhance their current data security compliance policies and procedures.
The U.S. Department of Health and Human Services’ Office for Civil Rights fined Excellus Health Plan $5.1 million for failures relating to a 2015 data breach that exposed the personal information of 9.3 million individuals.