Selected Developments in U.S. Law
NYDFS Issues Report on the SolarWinds Attack and Covered Entities’ Responses
Following the SolarWinds cyber espionage attack and the resulting focus on supply chain risk, the New York Department of Financial Services (NYDFS) issued a report detailing the attack’s impact on covered entities and responses by covered entities to the attack. Although there have been no reported instances of active exploitation of NYDFS-regulated companies as a result of the attack, the networks of approximately 100 NYDFS-regulated companies were compromised.
FBI Releases IC3 2020 Internet Crime Report Showing Record Increase in Cybercrime
The FBI’s Internet Crime Complaint Center (IC3) recently released its annual report, the 2020 Internet Crime Report, which gathers statistics from nearly 800,000 complaints of suspected cybercrimes that the department received in 2020. This is a record number of complaints—a 69% increase from 2019—with reported losses exceeding $4.2 billion. According to the FBI, the three most reported crimes in 2020 were phishing scams, nonpayment/nondelivery scams, and extortion/ransomware.
Department of Labor Issues Cybersecurity…
