Posts tagged Cybersecurity.

On January 16, Gov. Phil Murphy (D) of New Jersey signed Senate Bill No. 332 into law. The New Jersey privacy law generally follows the same framework found in many of the comprehensive privacy laws enacted by other states and contains many of the same standard features. However, there are a few notable differences, highlighted below, that will require covered businesses to adjust their privacy programs.

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.

On December 20, the Federal Trade Commission released a notice of proposed rulemaking to update the Children’s Online Privacy Protection Rule, known as the “COPPA Rule.” (We are linking to the official version of the proposed rule that was published in the Federal Register on January 11.) In a press release published on December 20, the FTC announced that the proposed amendments “would place new restrictions on the use and disclosure of children’s personal information and further limit the ability of companies to condition access to services on monetizing children’s 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:

As we near the end of another year, it is time to look ahead to developments in the information security and privacy landscape. One area of particular importance is the development of regulations implementing the Cyber Incident Reporting for Critical Infrastructure Act of 2022.

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.

Amendments have recently been proposed to two of the three statutes to be enacted under Canada’s Bill C-27: The Digital Charter Implementation Act. The statutes that may be amended are the Consumer Privacy Protection Act and the Artificial Intelligence and Data Act. The proposed amendments would beef up the protections in both statutes.

The Federal Trade Commission has approved an amendment to the Safeguards Rule under the Gramm-Leach-Bliley Act that creates a new data privacy regulatory reporting requirement for non-banking financial entities. Covered entities must notify the FTC within 30 days of discovery of a “notification event” that involves the unauthorized acquisition of unencrypted customer information of 500 or more consumers. The new rule, announced on October 27, takes effect 180 days after publication in the Federal Register, meaning approximately May 2024.

Last week, we discussed action taken by three states, Texas, California, and Ohio, to enhance protection of children’s data online. In this second installment, we shift our attention to address the 2023 legislative efforts of three additional states: Utah, Arkansas, and Connecticut.

The Constangy Cyber Advisor posts regular updates on legislative developments, data privacy, and information security trends. Our blog posts are informed through the Constangy Cyber Team's experience managing thousands of data breaches, providing robust compliance advisory services, and consultation on complex data privacy and security litigation. 

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