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In the world of cyber risk, we are dealing with unprecedented events. Apart from headline grabbing attacks such as the global malware incident that impacted Mondelēz’s business and the Russian military-run global cyber-attack, NotPetya, we are now seeing an epidemic of cyber attacks. Concern has shifted from dealing with data being stolen and sold on the dark Web to handling serious ransomware and destructive attacks, where attackers are looking for immediate monetary output. This is the new threat. Malware such as TrickBot can infect an entire corporate network allowing hackers to surreptitiously gain access to systems, embed nefarious files and clean themselves, leaving no trace. The source of the attack is not, however, dealt with — allowing hackers time to monitor what is valuable to an organisation and prepare a more sinister attack. At a later date, entire networks are encrypted, and companies are brought to their knees, unable to access email, payment systems, and operational systems. Everything goes down, including email, calendars, Skype and VOIP, leaving a company unable to operate or communicate.
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By Kenya Parrish-Dixon
By the time you read this, Americans will have been working from home for more than three months. This has never happened before in this country during the age of technology. As millions logged on to their home networks and personal devices in an attempt to keep their companies afloat, cybersecurity issues rose to the forefront of the many issues that companies had to manage.
By Mike Hamilton
The biggest challenge with any legal hold process is ensuring that potentially relevant data is actually preserved. But with evolving requirements for how data is managed by new data privacy laws like the CCPA and the GDPR, it’s become harder to secure data by simply sending a legal hold and assuming the custodian will do their duty to preserve it.
By Ryan Drimalla and Karl Dorwart
The London Interbank Offered Rate has long been the global basis for agreements that include a variable interest rate component. However, LIBOR would be replaced by other benchmarks by the end of 2021. Key to assessing risk of exposure, quantifying the financial impact, developing remediation plans and communicating material information to stakeholders will be the identification, analysis and remediation of LIBOR-based contracts.
By Tomas Suros
As the current pandemic has forced much of the world into virtual workforce mode, cybercriminals have seized on the uncertainty of the current times to launch new and creative offensives. Fears surrounding COVID-19 are high, conspiracy theories are running rampant, and cyberattackers are counting on stress and distraction to decrease our vigilance against intrusions.