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Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.
Details: Sullivan was found guilty of federal obstruction-of-justice charges for not informing the Federal Trade Commission, which was at the time investigating Uber’s privacy protections. Following the ransomware breach, Sullivan quietly arranged to pay off the hackers.
Agency Guide: The Federal Financial Institutions Examination Council this week released an update to its Cybersecurity Resource Guide for Financial Institutions with new ransomware-specific resources.
New Law: The Cybersecurity and Infrastructure Security Agency last month released a request for information as it develops regulations on cyber incidents and ransom payments. CISA is implementing the Cyber Incident Reporting for Critical Infrastructure Act, which requires critical infrastructure owners, including financial institutions, to report substantial cyber attacks to CISA within 72 hours and ransomware payments within 24 hours.
More: Additional community bank-focused cyber resources are available on ICBA's Cyber and Data Security resource center.
Previous News
ICBA issued a comment letter expressing support for an agency effort to provide clearer guidance on prudent commercial real estate loan accommodations and workouts while suggesting improvements to the proposal.
ImageOct 7, 2022
With lawmakers working to include ICBA-opposed credit card legislation in a must-pass defense bill, ICBA is urging community bankers to continue the grassroots campaign against the interchange measure.
ImageOct 7, 2022
Ten leading financial services trade associations sent a letter to U.S. House and Senate leadership and the top members of the Senate and House Armed Services Committees warning them that attaching the so-called Credit Card Credit Card Competition Act of 2022 to the National Defense Authorization Act (NDAA) “will rob military families of their credit card rewards, reduce the availability of safe credit, and undermine the nation’s data security.”
ImageOct 6, 2022
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