Cybersecurity

Cyber attacks and theft are on the rise around the country, and law firms are becoming prime targets. Unlike manufacturers, banks and retailers, law firms are unique organizations that are highly vulnerable.

The departure of eight members of the council could signal a strained relationship between the business sector and the government around cybersecurity policy.

Overall global spending in the information security services and products sector will total $86.4 billion this year, an increase of 7% over last year.

Financial services firms and their management should keep a close eye on developing cybersecurity regulations, so as to be better prepared to proactively address the shifting regulatory landscape as it continues to evolve.

At press time, DLA Piper was still recovering from its massive cyberattack, with insurance brokers claiming that the resulting upheaval could lead to costs "in the millions" for the firm.

It's important to have a restorative plan in addition to a preventative plan for your IT systems. Here are a few steps a law firm can take to ensure critical case data remains intact and accessible after a cybersecurity breach.

The scope of WannaCry changed our perceptions of ransomware attacks. Until then, the more highly publicized ransomware incidents were localized targets impacting only one or a small number of businesses. WannaCry made it clear that ransomware could reach a broad cross-section of computers worldwide, at essentially the same time.

This article examines the guidelines published by Board of Governors of the Federal Reserve System on managing outsourcing risk, along with the Office of the Comptroller of the Currency (OCC) 2013 OCC Bulletin 2013-29 and the supplemental Jan. 24, 2017, examination procedures, which are designed to help bank examiners tailor the examinations of national banks and federal savings associations determine the scope of the third-party risk management examination.