data privacy

When Deputy Attorney General Lisa Monaco announced in October 2021 that the Department of Justice would be pursuing a new initiative to combat cybersecurity related fraud, white-collar criminal defense attorneys took notice. DAG Monaco’s message in that announcement was clear: DOJ plans to combine its expertise in fraud enforcement and government procurement to aggressively pursue cyber threats and cybersecurity related fraud. Since that time, DOJ has secured a number of high-profile settlements that have sent the message to government contractors that misrepresenting their cybersecurity posture or failing to report a breach will result in a costly DOJ enforcement action. The […]

The Federal Trade Commission (FTC) announced on October 27th that it has expanded the scope of its financial data security rule, which will now require nonbank financial institutions – like vehicle dealers and mortgage brokers – to report data breaches. This new amendment to the FTC Safeguards Rule imposes similar reporting requirements to those already applicable to banks. Specifically, the amendment will require nonbank financial institutions to report to the FTC any data breach affecting 500 or more consumers’ data. The rule gives financial institutions 30 days to report the breach, however the FTC encourages reporting as soon as possible. […]