The New York Department of Financial Services (“NYDFS”) published the latest draft of its Proposed Second Amendment to its landmark Cybersecurity Regulation (23 NYCRR 500) on November 9, 2022. The proposed second amendment comes after an initial comment period on an earlier-released draft amendment released on July 29, 2022. NYDFS is accepting comments on the proposed second amendment through January 9, 2023.
CISA Requests Public Comment on Implementing Regulations for the Cyber Incident Reporting for Critical Infrastructure Act
On September 12, 2022, the U.S. Cybersecurity and Infrastructure Security Agency (“CISA”) published a Request for Information, seeking public comment on how to structure implementing regulations for reporting requirements under the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (“CIRCIA”). Written comments are requested on or before November 14, 2022 and may be submitted through the Federal eRulemaking Portal: http://www.regulations.gov.
CISA Issues Joint Cybersecurity Advisory on 2021 Ransomware Trends and Recommendations
In early February, the Department of Homeland Security Cybersecurity & Infrastructure Security Agency (“CISA”) announced the publication of a joint cybersecurity advisory observing “an increase in sophisticated, high-impact ransomware incidents against critical infrastructure organizations globally” during 2021. The report—which was coauthored by cybersecurity authorities in the United States (CISA, the Federal Bureau of Investigation, and the National Security Agency), Australia (the Australian Cyber Security Centre), and United Kingdom (the National Cyber Security Centre)—emphasizes that the continued evolution of ransomware tactics and techniques throughout the past year “demonstrates ransomware threat actors’ growing technological sophistication and an increased ransomware threat to organizations globally.”
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FTC Warns Companies to Remediate the Log4j Vulnerability and Hints at Potential Enforcement Actions
On January 4, 2022, the Federal Trade Commission published a warning to companies and their vendors to take reasonable steps to remediate the Log4j vulnerability (CVE-2021-44228). The FTC provided a list of recommended remedial actions for companies using the Log4j software. The FTC’s warning references obligations under the FTC Act and Gramm Leach Bliley Act (“GLBA”) to take reasonable action to remediate vulnerabilities, and hints at potential inquiries and enforcement actions against companies and vendors that fail to do so. As the FTC notes in its warning, the “FTC intends to use its full legal authority to pursue companies that fail to take reasonable steps to protect consumer data from exposure as a result of Log4j, or similar known vulnerabilities in the future.”
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COVID-19 Cybersecurity Advice: FTC and FBI Provide Guidance on Cybersecurity Scam Trends and Preventive Measures
In response to the COVID-19 outbreak, several U.S. government entities have released warnings about a rise in scams and fraudulent activity connected to the outbreak. In a recent bulletin, the FBI warned of a rise in phishing emails, counterfeit treatments or equipment for COVID-19 preparedness, and fake emails from the Centers for Disease Control and Prevention (CDC) purporting to provide information about the outbreak. The FTC, meanwhile, has released not only a general overview of the steps that it is taking to combat scams related to COVID-19, but has also provided a specific list of seven types of COVID-19 scams that it has observed targeting businesses. More information about these scams, and guidance from the FBI and FTC on how to protect against and respond to some of the most common risks, is below.
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New York SHIELD Act’s Reasonable Safeguard Requirements Became Effective on March 21st —Is Your Company Ready?
On March 21, 2020, the data security requirements of the New York SHIELD Act became effective. The Act, which amends New York’s General Business Law, represents an expansion of New York’s existing cybersecurity and data breach notification laws. Its two main impacts on businesses are:
- expanding data breach notification requirements under New York law; and
COVID-19 Cybersecurity Advice: FTC, NIST, and CISA Release Guidance on Secure Teleworking and Critical Infrastructure Jobs
In response to the drastic increase of U.S. employees working remotely, the U.S. Federal Trade Commission (“FTC”) and the U.S. National Institute of Standards and Technology (“NIST”) have both issued guidance for employers and employees on best practices for teleworking securely. In addition, the Cybersecurity and Infrastructure Security Agency (“CISA”) has provided advice on identifying essential workers, including IT and cybersecurity personnel, in critical infrastructure sectors that should maintain normal work schedules if possible. Each set of guidance is discussed in further detail below.
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Vermont Enacts Data Breach Notification and Student Privacy Legislation
Earlier this month, the Governor of Vermont signed into law S.B. 110, which will amend the state’s data breach notification law and create a new student privacy law focused on operators of educational technology services. Notably, the amendments to the state’s data breach notification law will expand the categories of personally identifiable information (“PII”) that may trigger notification obligations to individuals and regulators in the event of a breach to include online account credentials, health and medical information, and biometric and genetic data, among others. The student privacy law will place certain restrictions on how student data can be collected, used, and disclosed by operators of online educational technology services. The new requirements, which will enter into force on July 1, 2020, are discussed in more detail below.
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FTC Summarizes 2019 Changes to Data Security Orders
In a recent blog post, the Federal Trade Commission highlighted three key changes it made in 2019 in its approach to issuing orders in data security enforcement matters. As stated by Andrew Smith, the Director of the FTC’s Bureau of Consumer Protection, in the blog post, the agency intends for these changes to strengthen consumer protections while providing companies with more specific and actionable guidance about how to improve their data security practices. However, the FTC’s shift in approach may also have an impact on how companies view risks associated with FTC enforcement, as the changes could result in additional obligations for a company and members of its senior leadership team.
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CISA Releases Cyber Readiness Recommendations for Small Business
Last week, the U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (“CISA”) released a set of cyber readiness recommendations for small businesses. The recommendations, which CISA developed in collaboration with small businesses and state and local governments, are intended to assist smaller organizations in implementing organizational cybersecurity practices. While not binding requirements, the recommendations may inform what CISA and U.S. regulators view as “reasonable” cybersecurity practices.
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