ILN Today

Recent data thefts and systems intrusions, particularly with respect to ransomware, have assured that cybersecurity is top of mind for corporate executives and compliance officials. We at EBG have tried to keep you up to date with respect to legislative, regulatory and litigation developments and recommended best practices and procedures. As we close out the year, we all should remain mindful that cyber criminals, especially those who are supported or protected by foreign adversaries, have little incentive to rest up during the holidays. Indeed, they likely will find that a loosened semi-remote business environment offers them opportunities to exploit human and technologic weakness that allow execution of Zero Day exploits and other attacks upon corporate information systems. Through our participation in the National Chamber of Commerce Cyber Security Working Group, we have been actively interfacing with Executive Branch and Congressional officials to contribute to and to monitor the array of proposals being considered by the Congress, and the regulatory guidance being issued by federal agencies including The National Institute of Standards and Technology (“NIST”) of the Department of Commerce, the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency “CISA,” the Department of Health & Human Services Office of Civil Rights that deals with PHI protection, as well as the Treasury Department’s Office of Foreign Asset Control (“OFAC”). Thus, we have issued recent guidance concerning ransomware avoidance and resilience, the availability of helpful best practices tool kits from NIST and CISA, and heightened responsibilities with respect to ransomware payment decisions. We expect that the need for counselling with respect to cybersecurity and privacy compliance, data breach and ransomware response, and litigation defense is unlikely to diminish in the year ahead. From both regulatory and enforcement perspectives, government recognizes it as well.