Author Archives: Frederick J. Pomerantz

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Federal Cyber Legislation – Hurry Up and Wait

Despite the increasing number of data breaches, legislation to address this issue at the Federal level is at a standstill (or close to it). As has been noted in a variety of venues, currently, there is no comprehensive federal law to deal with data breaches. The federal law that does exist is centered on privacy issues for specific industries, e.g., Health Information Portability and Accountability Act (HIPAA) for health information and the Gramm-Leach Bliley Act (GLB) for financial information. While most states and the…

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Two GAO Reports Detail Deficiencies and Improvements in Thwarting Cyber Crimes

The Government Accountability Office (GAO) recently issued two reports on battling cyber threats that are useful for both private and public entities. The first report, issued July 2, 2015, was entitled Cybersecurity: Bank and Other Depository Regulators Need Better Data Analytics and Depository Institutions Want More Usable Threat Information. In that report, the GAO noted that while, “[d]epository institutions obtain cyber threat information from multiple sources, including federal entities such as the Department of the Treasury (Treasury)[,] [r]epresentatives from more than 50 financial institutions…

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House Committee Leaders Request Information About Cybersecurity for Cars

On May 28, 2015, leaders on the U.S. House Energy and Commerce Committee from both parties wrote to the National Highway Traffic Safety Administration (NHTSA) and 17 auto manufacturers requesting information about plans to address cybersecurity issues in automobiles. The Committee leadership noted: Connected cars and advancements in vehicle technology present a tremendous opportunity for economic innovation, consumer convenience, and public health and safety. These benefits, however, depend on consumer confidence in the safety and reliability of these technologies. While threats to vehicle technology currently…

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Symantec Issues Threat Report – Cyber Threats on the Increase

Symantec issued its 2014 Internet Threat Security Report (“ITSR” or the “Report”). The Report highlighted some interesting trends including:

  • “60 percent of all targeted attacks struck small- and medium-sized organizations.” In part, this is due to the fact that these “organizations often have fewer resources to invest in security, and many are still not adopting basic best practices like blocking executable files and screensaver email attachments. This puts not only the businesses, but also their business partners, at higher risk.”
  • “Non-targeted attacks still make up

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NY Dept. of Financial Services Requests Detailed Cyber Security Reports From Insurers

Cyber security is clearly one of the highest priorities — if not the top concern — for regulators in 2015. Late last month, the New York Department of Financial Services (DFS) sent more than 160 licensed insurers a New York Insurance Law Section 308 Letter seeking a detailed report regarding their cyber security practices and procedures. The Section 308 Letter — to which there is now less than three weeks to respond — also provides greater insight into the scope of cyber security examinations that…

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