Last week, the California Attorney General announced its second-ever settlement under the California Consumer Privacy Act, as amended by the California Privacy Rights Act. The settlement was with the online food ordering and delivery platform DoorDash.

The ever-increasing privacy and security risks via third-party vendors and service providers were apparent in 2023 with news of large organizations such as MOVEit, Okta and AT&T being affected. Research has shown that 98 percent of organizations have at least one third-party vendor that experienced a cyber incident within the past two years. With this growing trend, it is increasingly important for organizations to develop robust third-party risk management programs and to consistently review their third-parties to safeguard against security threats and ensure the security and privacy of their data.

The New York Department of Financial Services recently amended its Cybersecurity Regulation. The revisions aim to strengthen cybersecurity and technology controls to address evolving threats to consumer data and ensure the continued integrity of financial systems. Here are a few key elements of the amendments to Regulation and what we think will be their immediate impact on financial institutions.

‘Tis the season for the hustle and bustle of year-end holiday activities. With that comes the increased risk of cybercriminals exploiting the season to find vulnerabilities. This includes taking advantage of increased online transactions, employee vacations, and holiday gift-giving to launch attacks on organizations large and small. Below are some steps companies can consider taking to increase their defenses against the most common holiday cybersecurity threats:

Data processing agreements are a standard part of business arrangements involving personal data due to the European Union’s General Data Protection Regulation as well as the ever-expanding number of U.S. consumer privacy statutes.

The new Swiss Federal Act on Data Protection, known by the acronym “nFADP,” took effect on September 1. The law was enacted by the Swiss parliament in 2020.

The law introduces new rights for Swiss citizens, but also corresponding obligations for businesses that process personal data subject to the law. The law is intended to be more closely aligned to the European Union’s General Data Protection Regulation and allows for a free flow of information between EU and Swiss companies.

This summer, Gov. Joe Lombardo (R) signed the Consumer Health Data Privacy Act into law. The Act, which will take effect March 31, 2024, provides protections for consumer health data collected and maintained by regulated entities.

Boards of Directors for public companies across the country are likely to be taking stock of their companys’ cybersecurity practices and strategies after the Securities and Exchange Commission’s adoption of the Cybersecurity Incident Disclosure Rule on July 26. Although the SEC removed the requirement for corporate boards to include members with cybersecurity expertise, it still intends for the Rule to result in greater transparency of companies’ cybersecurity governance and to aid in investor understanding. The Rule presents additional reasons for companies to determine who, if anyone, on their Boards can help with oversight of cybersecurity governance.

This year has proven to be active in terms of state privacy legislation. In addition to Montana’s Consumer Data Privacy Act, the state has now passed a Genetic Information Privacy Act.

On July 31, the California Privacy Protection Agency’s Enforcement Division announced that it would be reviewing connected vehicle manufacturers’ and technologies’ privacy practices. Connected vehicles contain features that collect information about owners and riders, including location sharing, web-based entertainment, cameras, and smartphone integrations.