Employers in the financial services sector are facing an unprecedented number of cybersecurity attacks during the pandemic crisis. To put this in perspective, the Financial Industry Regulatory Authority (FINRA) has issued nine notices regarding the ongoing and widespread cybersecurity threats facing the industry since the COVID-19 pandemic began – and only issued seven cybersecurity notices in the 14 years before the pandemic. What do financial services employers need to know about this development, and what can you do to minimize your chances of falling victim to such an attack?
Several federal agencies have teamed up to warn healthcare employers of the increased threat they face as a result of malicious cybercriminals aiming to take advantage of the pandemic to wreak havoc on their operations. The Cybersecurity and Infrastructure Agency, the Federal Bureau of Investigation, and the Department of Health and Human Services recently issued a joint advisory based on “credible information of an increased and imminent cybercrime threat to U.S. hospitals and healthcare providers.” The October 28 Advisory warns that malicious cyberactors are targeting this sector with malware, which can lead to ransomware attacks, data theft, and a disruption of healthcare services. What do healthcare employers need to know about this danger and what can be done to prevent such an attack?
On July 25, 2019, New York Governor Anthony Cuomo signed the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) into law. The Act creates additional protections for the residents of New York and their private information. It also endeavors to improve cybersecurity measures for those who possess private information about New York residents.