On April 15, 2020, the U.S. Departments of State, the Treasury, and Homeland Security, and the Federal Bureau of Investigation issued an advisory alert providing guidance on the North Korean cyber threat and steps to mitigate that threat (the “Alert”).[1]  The U.S. Government has repeatedly warned the private sector that North Korea, formally known as the Democratic People’s Republic of Korea (“DPRK”), routinely engages in malicious cyber activities and has specifically targeted financial institutions.

This Alert serves as a reminder, especially during this pandemic as businesses go remote and virtual to an unprecedented degree, that the cyber threat, including from the DPRK, remains a critical risk for all companies.  Financial institutions in particular, a traditional target of North Korean cyber activity, should take steps to ensure they are protecting themselves from and responding effectively to malicious cyber intrusions.
Continue Reading CISA Alert: North Korean Cyber Threat Poses Increased Risk for Financial Institutions

In 2019, boards and senior management across a range of industries continued to cite cybersecurity as one of the most significant risks facing their companies.

At the same time, comprehensive data privacy regulation became a new reality in the United States as many companies implemented major revisions to their privacy policies and data systems to

In summer 2018, a new Indian Personal Data Protection Bill was released by a Committee of Experts formed under the Chairmanship of Justice B.N. Srikrishna (the “Bill”), accompanied by a report titled “A Free and Fair Digital Economy: Protecting Privacy, Empowering Indians.” After several months’ hiatus, reports are emerging of renewed impetus from India’s Ministry

The US-China Business Council (“USCBC”) released a report on February 5, 2018.  The report identifies three key areas in which the China Cybersecurity Law (the “CCL”), which came into effect in June 2017, has posed significant challenges to companies’ ability to conduct business in China, and sets forth detailed recommendations to the Chinese regulators to address such challenges. We previously discussed the CCL and the international business community’s concerns regarding the law’s expansive scope, prescriptive requirements, and lack of clarity on a range of critical issues. The new USCBC report raising many of these same concerns can be accessed here
Continue Reading US China Business Council Lays Out Recommendations to Improve China’s Cybersecurity Regulations

On October 27, 2017, the Hong Kong Securities and Futures Commission (“SFC”) issued Guidelines for Reducing and Mitigating Hacking Risks Associated with Internet Trading (the “Guidelines”), a set of baseline cybersecurity requirements that all persons licensed or registered with the SFC and engaged in internet trading will be required to implement. The Hong Kong Monetary