ALTA is committed to helping its members protect their business and clients from cyber attacks. Use these resources and information to understand what you should be doing to help safeguard your system.
Gramm-Leach-Bliley Act (GLB): This regulation requires financial institutions—companies that offer consumers financial products or services like loans, financial or investment advice, or insurance—to explain their information-sharing practices to their customers and to safeguard sensitive data. These companies include title and settlement companies, as well as law firms.
Forty-seven states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands have enacted legislation requiring private, governmental or educational entities to notify individuals of security breaches of information involving personally identifiable information.
ALTA Best Practices
The third pillar of ALTA’s “Title Insurance and Settlement Company Best Practices” provides procedures that should be taken to protect non-public personal information (NPI).
Federal Trade Commission
Federal Financial Institutions Examination Council (FFIEC)
Federal Bureau of Investigation
National Association of Insurance Commissioners (NAIC)
News about Cybersecurity
More Cybersecurity Articles
|June 30, 2016
||Early Signs on Fintech from Consumer Financial Protection Bureau
The National Law Review | June 30, 2016
There is no doubt that the regulation of financial technology (fintech) companies is on the rise. Fintech companies broadly mean companies that provide products, services and technology where traditional banking and financial services leave off and technology takes off.
|June 28, 2016
||Report: NAIC Cybersecurity Task Force Chair Wants Data Security Model Law by Fall
The chair of the National Association of Insurance Commissioners (NAIC) Cybersecurity Task Force wants the task force to approve a data security model law no later than this fall, according to a report.ALTA has sent two letters to the NAIC offering modifications that should be made to the NAIC's proposal.
|June 21, 2016
||Protect Yourself From Cybercrime: 6 Best Practices To Implement Now
Business Solutions | June 20, 2016
Today, most companies have at least a basic awareness of the need to reduce their vulnerability to cybercrime. There is also increasing awareness of the need to be prepared for the possibility they will be the victim of an attack.
|June 17, 2016
||Cybercrime Market Sells Servers for as Little as 6 Dollars to Launch Attacks
Reuters | June 15, 2016
A major underground marketplace acting like an eBay for criminals is selling access to more than 70,000 compromised servers allowing buyers to carry out widespread cyber-attacks around the world, security experts said on Wednesday.
|June 16, 2016
||FBI Reports Email Fraud Schemes Result in $3.1B in Losses Since 2015
Sophisticated email scams targeting businesses that regularly perform wire transfer payments has increased 1,300 percent and resulted in losses totaling $3.1 billion, according to the FBI. Read on for several red flags to help identify a fraudulent email scams and and tips to protect your operation.
|June 16, 2016
||What Can We Do to Better Protect Sensitive Personal Information?
Financial Services Roundtable | June 15, 2016
It is likely that 2016 will be considered the ”year of the exploit” as we see a shift to higher-impact identity-impersonation cybercrime that takes advantage of the large amount of sensitive data accumulated in 2015.
|June 15, 2016
||Hackers Sought to Steal Over $3 Billion Through Wire-transfer Fraud: FBI
Reuters | June 14, 2016
Hackers have sought to steal more than $3 billion from businesses in a pernicious, fast-growing type of scam in which criminals impersonate company executives in emails ordering large wire transfers, the Federal Bureau of Investigation warned on Tuesday.
|June 14, 2016
||ALTA: Model Cyber Law Should Protect Consumers, Not Duplicate Existing Safeguards
In a letter, ALTA tells the National Association of Commissioner's that its draft Insurance Data Security Model Law would not meet the NAIC’s goal of creating a uniform standard, but would create a competing patchwork of regulations to existing state law.
|June 10, 2016
||Two Charged in Cyberfraud Against JPMorgan and Others, Plead Not Guilty
Bloomberg | June 9, 2016
Two Israeli citizens pleaded not guilty on Thursday to orchestrating a massive computer hacking and fraud scheme that included an attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit.
|June 9, 2016
||Feds Not Prosecuting Enough Cyberthieves, Survey
SC Magazine | June 8, 2016
Two-thirds of adults surveyed last month believe the government is inadequate in its pursuit and prosecution of cyberthieves, according to an ESET blog.
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