It’s all over the news and it’s top of mind with bank regulators: “Cybersecurity.” What happened with Target, Home Depot and Wyndham hasn’t helped. The last several years have been fraught with news story after news story about those crafty hackers who find vulnerabilities in a company’s system and steal private information or even redirect funds. And despite all of our technological advancements, the escalation in successful hacking attempts has no end in sight. Call them hackers, fraudsters or good old-fashioned crooks, from computer-savvy teenagers to state-sponsored groups, they are not going away. And, unfortunately, they seem at times to be two steps ahead of the latest security software and security vendors that are offering you and your financial institution protection.
With an industry-wide focus on enterprise risk management, and with the particular vulnerability of banks to the adverse impact of “reputation risk,” it is important that banks understand and take appropriate steps to mitigate risks associated with internet defamation. Online reputation attacks, including internet defamation, are affecting all industries and professionals. Banks, –including community banks,– are not immune from being attacked and disparaged online.
Minutes, if not seconds, is all it takes for someone to cause harm to another person on the internet. Whether a single posting on social media or another online forum, or a full-fledged harassment campaign consisting of numerous postings on various platforms, it is extremely easy today to cause damage to another’s reputation online.
The Bipartisan Budget Act of 2015 (11/2/2015) includes a rare bipartisan amendment to the Affordable Care Act (ACA). The ACA would have required that employers with 200 or more full-time employees auto-enroll their full-time employees in health coverage.
With cybersecurity as THE hot button issue in bank and thrift risk management right now, and of course to help the industry celebrate “National Cybersecurity Awareness Month” (who knew?), bankers and their boards should take advantage of the FDIC informational teleconference on cybersecurity issues being held on October 28, 2015.
Many businesses today are finding their products being sold online without their permission, often on third-party websites. While the First Sale Doctrine generally permits buyers to resell others’ trademarked goods without incurring any liability, it does not apply when a reseller sells goods that are materially different from the genuine goods sold by a trademark owner.
Last week, the Washington Supreme Court handed down a favorable ruling in a case turning on the application of the federal Communications Decency Act of 1996 (CDA) – favorable, that is, for those seeking to hold websites accountable for certain harm arising out of content published on their sites.
Outside of handling internet defamation matters and protecting businesses from product diversion/unauthorized online sales, we are often asked about a number of other internet-related issues, including removing intellectual property (IP) infringement from social media websites.
According to a recent survey, more consumers are reading online reviews, they are forming opinions based on those reviews quicker, they are paying close attention to star ratings, and – in general – they are highly trusting of online reviews.
On Tuesday, August 11, 2015, the United States Court of Appeals for the District of Columbia Circuit released a decision upholding an assertion of privilege by Kellogg Brown and Root, Inc. (KBR) over internal investigation documents in a FCA suit alleging kickbacks and overbilling on Iraq war subcontracts.