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Consider this scenario: You’re a law firm accountant. Early one morning while reviewing emails, you see a message from the firm’s real estate agent stating that the landlord has agreed to your latest counteroffer and is ready to move forward on the rental of your new office space. You continue discussions to finalize the deal, work on signing the paperwork and are ready to send over your deposit. A new email from the agent at the last-minute mentions changing banks and encloses updated wiring instructions. The email has a sense of urgency to send the information quickly or the deal may fall through. Looking at the email, it appears legitimate, and you’ve done two other deals with this agent in the past, so you feel comfortable with the request. You reply to the message confirming the change, the response says to move forward. And all appears well.
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New U.S.-China Investment Dynamic Focuses On AI and Sensitive Technologies
By David A. Holley
An Executive Order released by the Biden Administration on Aug. 9 places increased importance on due diligence when investing in specific foreign countries. The Executive Order will regulate outbound investments in China with a focus on key technologies critical to safeguarding U.S. national security, including artificial intelligence.
New York’s Latest Cybersecurity Commitment
By Erik B. Weinick
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York’s inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Data Breach Defense: Mobilizing Against Weaponized Mass Arbitration
By Daniella Main and Brooke Bolender
Most companies have experienced or will experience a data breach. Increasingly, companies also face the risks associated with mass arbitration weaponized by the overwhelming volume of claims after a breach.
By Wim Nauwelaerts
Businesses and organizations that (regularly) transfer personal data from the EU to the U.S. should carefully assess, on a case-by-case basis, whether it makes sense to rely on the new EU-U.S. Data Privacy Framework or to use one of the other data transfer tools that are available under the GDPR.
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