New York’s Stop Hacks and Improve Electronic Data Security Act, which went into effect on March 21, places a greater burden on regulated entities in responding to data breaches and expands the enforcement powers of the New York Attorney General’s office. In order to avoid penalties, businesses would be wise to ensure that they are in compliance with the new law.
For the full alert, visit the Faegre Drinker website.
On July 16, 2019, the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) issued an “Updated Advisory on Email Compromise Fraud Schemes Targeting Vulnerable Business Processes” (the “Advisory”). The Advisory provides a detailed and helpful overview of trends in Business Email Compromise (“BEC”) schemes affecting U.S. financial institutions and other businesses.
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