Last week the Securities and Exchange Commission (SEC) published the enclosed comprehensive proposal for cyber-risk management regulation for investment funds and advisers. It is a comprehensive 243 document that outlines cybersecurity for the investment industry that includes the necessary policies,…
The SEC launched a clear first cyber shot across the bows of corporate America this week in a 3:1 vote by SEC commissioners, proposing to implement cyber regulation for investment funds and advisers. The Chair of the SEC has described…
I have enclosed a very useful podcast from US Attorneys Hogan Lovells, on the application of the False Claims Act (FCA) to cybersecurity regulations in the US. The Department of Justice (DoJ) announced a cyber fraud initiative in October 2021…
Thank you Luca Leone. An already strained DIB makes the additional burden of cybersecurity requirements lower down the supply chain difficult to implement. Requiring careful consideration to burden and cost while maintaining cybersecurity standards to protect the loss of the…
An interesting observations between SARs and the rise in crypto transactions. As Crypto exchanges reported a significant number of SARs. Maybe a correlation to the number of registered Money Services Businesses registered with FINCEN, the number of transactions processed or…
The enclosed statement by the Chair of the SEC Gary Gensler is a very significant for cybersecurity. Announcing a proposal by the SEC for cybersecurity reforms aimed at the Investment management industry. The 243 page document sets out requirements for…
The European Central Bank (ECB) is warning EU banks to prepare for Russian state sponsored cyber attacks ahead of the recent tensions between East and West. I do hope that tension can be deescalated over the coming weeks. Financial infrastructure…
The UK Foreign, Commonwealth and Development Office (FCDO)‚Â called in BAE applied intelligence to help resolve a cyber incident in January 2022. There is no detail of the incident and it is difficult to speculate other than to point towards heightened…
Thank you for publishing this Scott Edwards (Kurt Lessmann,‚Â Chandler Hall‚Â and‚Â Amy Edwards) highlighting the challenges Small Business America (and big business for that matter) is facing with CMMC compliance, and the challenges the DoD could face if companies decide to leave…
The amount of money that the UN estimates the North Koreans have hacked over the past 3 years is difficult to accurately quantify, but its well north of $2Billion. From crypto currency hacks and ransomware campaigns. Monies used to fund…
