Biden Cyber Reporting Act Requires Ransomware Notice from Banks

Irina Baranova

Most banks and their service providers are familiar with the final rule governing notice for “notification incidents” and “cyber security incidents.” With compliance due by May 1, 2022, the rule establishes standards and deadlines for service providers to notify banks of such incidents and for banks to notify their primary federal regulator […]

The 2022 Cyber Incident Reporting Law: Key Issues to Watch

Irina Baranova

Against the background of the Russia-Ukraine war, public officials have warned that Moscow or other hacktivist groups may escalate their malicious cyber operations, which could (directly or indirectly) impact the United States and local businesses. Congress, in response to these concerns and the significant increase in cyberattacks in recent years, […]

Bipartisan Cyber Incident Reporting for Critical Infrastructure Act of 2022 Signed into Law | Pillsbury Winthrop Shaw Pittman LLP

Irina Baranova

Entities Subject to Reporting Requirements The Act requires “covered entities” to report any cyber incidents and ransomware payments to CISA. While the Act requires the CISA director to define “covered entities” and “covered cyber incidents” more clearly for the purposes of the law’s reporting requirements, the broad definitions currently within […]

Biden signs cyber incident reporting bill into law

Irina Baranova

President Joe Biden on Tuesday signed into law a $1.5 trillion government funding bill that includes legislation mandating critical infrastructure owners report if their organization has been hacked or made a ransomware payment. Biden signed the legislation during a White House ceremony that was attended by administration officials and top […]

New Cybersecurity Law Will Require Cyber-Incident Reporting for Critical Infrastructure | Alston & Bird

Irina Baranova

In the wake of widespread ransomware attacks, the newly enacted Strengthening American Cybersecurity Act will require “covered entities” to report data breaches to federal regulators. Our Privacy, Cyber & Data Strategy Team answers pressing questions about the new law. What companies and industries are covered? What types of cyber-incidents must […]