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Compliance Week: Last year, Equifax agreed to pay up to $700 million in a settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and a coalition of 50 attorneys general.
Reuters: McAfee LLC told Reuters it has hired Peter Leav, the former CEO of BMC Software, as its new CEO, replacing Chris Young, who created the cyber security company in its current form by carving it out of Intel Corp four years ago.
Law.com: The question gets asked quite frequently in regulatory circles: “Will the New York State Department of Financial Services bring an enforcement action under its cybersecurity regulation, and if so, when?” The probable answers are “yes” and “soon.”
Reuters: Insight Partners in April participated in a $65 million funding round for Armis that brought the company’s total funding to $112 million. That round was led by Sequoia Capital.
Department of Financial Services: There is currently a heightened risk of cyber attacks from hackers affiliated with the Iranian government. The Iranian government has vowed to retaliate against the United States for the death of Qassem Soleimani. Given Iranian capabilities and history, U.S. entities should prepare for the possibility of cyber attacks.
JDSUPRA: The Financial Conduct Authority (FCA) aims to guide regulated firms on its expectations of their cyber resiliency. In 2018, the FCA warned regulated firms of the risks of outdated IT systems and the lack of effective cyber controls as a key area of vulnerability in an environment where it said that the threat level for cyber-attacks is “remarkable.”
Coin Telegraph: A 19-year old man has been indicted for identity theft as part of an alleged $1+ million cryptocurrency heist affecting at least 75 victims in the United States.
CTV: Hackers may have obtained the personal data of 15 million LifeLabs customers after a systems breach, and this includes addresses, passwords, birthdays, health card numbers and even lab results.
Cyberscoop: LogMeIn, the Boston-based software company that owns password manager LastPass, said it will sell itself to two private equity companies as part of a cash deal valuing LogMeIn at roughly $4.3 billion.
CTV: The Desjardins Group says the employee who stole the personal data of 4.2 million members of the financial co-operative also gained access to information for 1.8 million credit card holders.
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