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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack That Impacted Charitable Donors
The Securities and Exchange Commission today announced that Blackbaud Inc., a South Carolina-based public company that provides donor data management software to non-profit organizations, agreed to pay $3 million to settle charges for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers. The SEC’s order finds that, on July 16, […]
White House Convenes Summit for Stopping the Spread of Ransomware
The U.S. White House brought together 36 countries and the EU for its second International Counter Ransomware Initiative (CRI) summit to counter the global spread of ransomware. Among other initiatives, the CRI plans to establish an International Counter Ransomware Task Force (ICRTF), share technical information about ransomware with a wide range of stakeholders and provide […]
Why Crime Could Kill Crypto – WSJ
One approach might be to make it harder to use or transfer cryptocurrency once stolen, much like suitcases filled with $1 million in cash are difficult to actually spend without getting noticed. The Biden administration is proposing to adopt the same requirement for crypto that all businesses have when they are paid more than $10,000 […]
How the FBI Got Colonial Pipeline’s Ransom Money Back – WSJ
After Colonial Pipeline Co. on May 8 paid roughly $4.4 million in cryptocurrency to hackers holding its computer systems hostage, the Federal Bureau of Investigation followed the digital money. Over the next 19 days, court records show, a special agent watched on a publicly visible bitcoin ledger as hackers transferred the 75 bitcoins to other […]
Ransomware mentioned in 1,000+ SEC filings over the past year | ZDNet
A growing number of public companies are now listing ransomware as a forward-looking risk factor in documents filed with the US Securities Exchange Commission. More than 1,000 documents mentioning ransomware as a risk factor have been filed over the last 12 months, and more than 700 in 2020 alone, with the number expected to easily […]
Ransomware Gangs Now Outing Victim Businesses That Don’t Pay Up — Krebs on Security
As if the scourge of ransomware wasn’t bad enough already: Several prominent purveyors of ransomware have signaled they plan to start publishing data stolen from victims who refuse to pay up. To make matters worse, one ransomware gang has now created a public Web site identifying recent victim companies that have chosen to rebuild their […]