Companies large and small are on heightened alert for cyber incidents following the SolarWinds Orion Platform software attack that came to light in late 2020.
On Wednesday, July 22, 2020, almost three and a half years after the Department of Financial Services’ (DFS) cybersecurity regulations (23 N.Y.C.R.R. Part 500) became effective, DFS issued its first enforcement notice.
On June 1, 2020, the Office of the California Attorney General submitted final regulations under the California Consumer Privacy Act (“CCPA”) to the California Office of Administrative Law (“OAL”) for expedited review.
Last week, the New York Department of Financial Services (“DFS”) issued guidance to entities it regulates about maintaining cybersecurity awareness during the COVID-19 pandemic. Businesses have likely already seen the numerous news alerts regarding the increased risk of cyberthreats as bad actors take advantage of the upheaval caused by the current health crisis. At the end of March, the FBI reported that its Internet Crime Complaint Center had already received over 1200 complaints of COVID-19-related scams.
Organizations of all sizes are facing daunting technological and logistical challenges, as much of the country’s workforce adjusts to working remotely. Privacy and data security risks only add to these challenges.