Topic: Ransomware

Rare recovery in a complex ransomware case: Major NetWalker arrest leads to significant asset seizure

Data Protection Report - Norton Rose Fulbright

Norton Rose Fulbright Canada’s cyber litigation team recently obtained an order in favour of an insurer, granting it relief from forfeiture in respect of more than 11 bitcoins from the assets seized from a prolific ransomware gang.[1] This case was the first of its kind and confirms an insurer’s ability to seek recovery for losses … Continue reading

FTC Signals Additional Scrutiny for Data Breaches

By Anna Rudawski (US) and Chris Cwalina (US) on May 25, 2022 Posted in Cybersecurity, Data breach, Privacy law, Ransomware, Regulatory response

On May 20, 2022, the Federal Trade Commission (FTC) stated that failure to disclose a data breach may be a violation of Section 5 of the FTC Act. Historically, the FTC has not been explicit about its notification expectations, but in blog post published by the FTC’s CTO and Division of Privacy and Identity Protection, … Continue reading

The UK’s ICO issues a monetary penalty notice to professional services firm after ransomware attack

By Steven Hadwin (UK) and Tim Jones on March 22, 2022 Posted in Cybersecurity, Data breach, Enforcement, Ransomware, Regulatory response

On 10 March 2022, the Information Commissioner’s Office (ICO) issued a monetary penalty notice to a professional services firm (the Firm) to the tune of £98,000 for a breach of Article 5(1)(f) of the General Data Protection Regulation (GDPR). The Firm was the victim of a ransomware attack which it first became aware of on … Continue reading

Congress Agrees – 72-Hour Cyber Incident Reporting Requirement to Take Effect

By Chris Cwalina (US), Ashley Zatloukal (US), Anna Rudawski (US), Will Daugherty (US) and Alexis Wilpon (US) on March 16, 2022 Posted in Cybersecurity, Data breach, Ransomware

On March 15, 2022, President Biden signed an omnibus spending bill into law, which, in part, requires companies to report cyber incidents and ransom payments. The relevant portions of the law, titled the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (“Act”) proposes reporting requirements for incidents, establishes new programs to curtail ransomware attacks … Continue reading

Who gets to decide to pay the ransom in a ransomware attack?

By Chris Cwalina (US), Kevin J. Harnisch (US), Ilana Beth Sinkin (US) and Ashley Zatloukal (US) on January 18, 2022 Posted in Cybersecurity, Data breach, Ransomware

The onslaught of ransomware attacks since the pandemic began has not slowed. Organizations have been faced with the task of continuously reviewing their cybersecurity programs to ensure they are following best practices to protect against ransomware groups. But organizations also need to be prepared to respond to such an attack if their cybersecurity practices are … Continue reading

Cyber authorities sound the alarm on critical vulnerability In Java Library

By David Kitchen (US), Chris Cwalina (US), Anna Rudawski (US), David Kessler (US) and Will Daugherty (US) on December 13, 2021 Posted in Cybercrime, Cybersecurity, Ransomware, Vendor management and transactions

On December 9, 2021 a critical vulnerability (CVE-2021-44228) was reported within the Apache Log4j Java logging framework. The vulnerability allows threat actors to remotely execute code on both on-premises and cloud-based application servers, thereby obtaining control of the impacted servers. This is a critical vulnerability of very high significance to government and industry groups. See … Continue reading

US Senate considers mandating 24-hour reporting requirement for ransom payments

By David Kitchen (US) and Kate Nelson (US) on October 5, 2021 Posted in Cybercrime, Cybersecurity, General, Ransomware

Norton Rose Fulbright - Data Protection Report blog

On September 28, 2021, the US Senate Homeland Security and Governmental Affairs Committee released a draft bill that would, among other things, require nearly all entities that make a ransom payment as the result of a ransomware attack against the entity to report the payment to the Director of the Cybersecurity and Infrastructure Security Agency … Continue reading

OFAC Announces New Measures to Address Ransomware Attacks

By Chris Cwalina (US), Ashley Zatloukal (US) and Stefan H. Reisinger (US) on September 21, 2021 Posted in Cybercrime, Cybersecurity, Ransomware

The U.S. Department of Treasury, Office of Foreign Assets Control (“OFAC”) implemented additional measures today to combat the growing ransomware problem. OFAC’s measures consist of: (1) the designation of the entire SUEX OTC, S.R.O. (“SUEX”) crypto-currency exchange (SUEX) to the SDN List; (2) designating a fairly large number (~25) additional digital currency addresses to the … Continue reading