In the insurance industry, an “endorsement” is used to amend an insurance policy. Endorsements can be used to add items to a policy, amend policy provisions, or update an insured’s coverage. Endorsements also can be used to provide directions to third parties with whom an insured can work if a claim is made under a policy.
Continue reading “A Cyber Hygiene Strategy: Cyber Insurance Endorsements”
The United States Congress recently passed legislation that includes new cybersecurity provisions requiring critical infrastructure providers to report cyber security incidents, including the payment of ransom, to the federal government. The bill, also known as the “Strengthening American Cybersecurity Act of 2022,” passed the Senate by unanimous vote on March 1. It then passed the House of Representatives and was signed into law by President Biden on March 15, 2022.
Continue reading “Congress Passes New Cyber Incident and Ransomware Payment Reporting Legislation”
Cryptocurrency has increasingly become an accepted form of financial exchange. However, it has also become a favored form of payment for cyber criminals.
In an effort to deter the use of cryptocurrencies in furtherance of criminal activity, the Federal Bureau of Investigation recently announced the formation of a Virtual Asset Exploitation Unit (VAXU). The VAXU will combine various investigatory, technical, and analytical resources, and the unit is charged with tracking the illicit use of cryptocurrencies and assisting in their seizure. This announcement follows close on the heels of the recent U.S. Department of Justice appointment of veteran federal prosecutor Eun Young Choi as the first director of the newly-created National Cryptocurrency Enforcement Team (NCET).
The Federal Trade Commission (FTC) recently warned private entities to remediate any ongoing Log4j vulnerabilities present within their networks or face possible enforcement action.
Log4j is used to record activities in a wide range of systems, sites, and software found in online products and services. Recently, a serious vulnerability in this popular software was discovered. This vulnerability poses a severe risk to millions of users. Most importantly, the Log4j vulnerability is being widely exploited by a growing set of attackers.
Continue reading “FTC Warns Companies to Fix Vulnerabilities Associated with Log4j”
Over the last several years, the Federal Communications Commission (FCC) has been taking a more active role both in anticipating the need for ever greater communications network security measures necessary to counter threats as well as potentially forging a new role in protecting the integrity of data that flows through the Internet. The latest evidence of this security consciousness is a recent Notice of Inquiry (“Notice”) adopted by the FCC seeking information to better understand the scope of Border Gateway Protocol (BGP) routing system security vulnerabilities, and the means to address them.
Last year, we provided a brief primer on prominent cybersecurity frameworks. In this episode of the Faegre Drinker on Law and Technology Podcast, Jason G. Weiss chats with guests Jim Watkins, former deputy laboratory director in the FBI’s Orange County Crime Lab and current certified technical assessor for the ANSI National Accreditation Board, and Nate Shiflett, the director of posture and compliance for Sylint, an internationally recognized cybersecurity and forensics firm, to take a deeper look into the leading cybersecurity frameworks.
