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Join the Securities Litigation and Enforcement Group on LinkedInHackers Complain to SEC Company They Hacked Failed to Disclose the Incident | The D&O Diary
In a move that may set a record for hacking chutzpah, a cyber ransom gang has filed a complaint with the SEC reporting that a company they hacked had failed to report the incident to the SEC within the time required by the agency’s new cybersecurity disclosure guidelines. The gang apparently filed the complaint after […]
Ransomware gang files SEC complaint over victim’s undisclosed breach
The ALPHV/BlackCat ransomware operation has taken extortion to a new level by filing a U.S. Securities and Exchange Commission complaint against one of their alleged victims for not complying with the four-day rule to disclose a cyberattack. Earlier today, the threat actor listed the software company MeridianLink on their data leak with a threat that […]
Guest Post: CISO Liability in Focus: SEC Enforcement, Insurance, and [Personal] Risk Mitigation | The D&O Diary
After years of relatively gentle guidance when it came to disclosing cyber risk and cyber breaches, the SEC signaled that the kid gloves had come off when it proposed and ultimately adopted its new cyber disclosure rules. The SEC had also already been signaling its changing enforcement posture, including a 2021 penalty of $500,000 it imposed on American Title […]