Technology Roundup
Why You Need to Enable MFA For Your Business Now
Creating passwords needs to be a challenge, not for you to remember but for others to guess. Yet, the digital world is changing. A single sign-on password is pretty easy for unsavory characters to hack. Statistics indicate in 2021, there were 50% more cyberattacks per week aimed at companies compared to 2020. Furthermore, cybercrime costs are expected to reach a whopping $10.5 trillion by 2025 ...
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How to Protect Your Business Against Ransomware
Within the past decade, technology has evolved extremely rapidly, which can be both beneficial and difficult for business owners to navigate. Just as common technology like laptops and mobile banking has evolved, so have the cybercriminals that target businesses in ransomware attacks. Despite the frightening news of recent ransomware attacks, Vandeventer Black is here to provide business owners with the information and legal support you ...
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Department of Justice Announces New Civil Cyber-Fraud Initiative – What This Means for Federal Contractors
Recently, Deputy Attorney General Lisa O. Monaco announced the Department of Justice’s new Civil Cyber-Fraud Initiative, aimed at combatting “new and emerging cyber threats to the security of sensitive information and critical systems.” The Initiative will be led by the Department’s Civil Division Commercial Litigation Branch, Fraud Section, and is a direct result of the Department’s comprehensive cyber review ordered by Deputy Monaco last May ...
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Cybersecurity Maturity Model Certification (CMMC) 2.0 – What Federal Contractors Need To Know
On November 4, 2021, the Department of Defense (DoD) issued an Advanced Notice of Proposed Rulemaking by releasing the latest and highly anticipated iteration of the CMMC program – CMMC 2.0. According to the DoD, the streamlined version of CMMC 2.0: Cuts red tape for small and medium-sized businesses Sets priorities for protecting DoD information Reinforces cooperation between the DoD and industry in addressing evolving ...
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Prioritizing Cybersecurity in a Hybrid Workplace
In this day and age, employees are more connected than ever. The hybrid workplace is here to stay, and for employees, this means relying on connected devices from their home offices. According to recent data,[1] smart home systems are set to rise to a market value of $157 billion by 2023, and the number of installed connected devices in the home is expected to rise ...
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FIGHT THE PHISH!
In our earlier article, we discussed tips on practicing basic cyber hygiene. One of the most common attack methods mentioned in that article was phishing. This article will discuss the importance of being aware of text messages, emails, or chat boxes that come from someone you do not know or were not expecting. Phishing has been a staple in the cybersecurity threat landscape for decades ...
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Cybersecurity Best Practices
In our first article to kick off Cybersecurity Awareness Month, we will discuss some steps businesses can take to improve their cyber hygiene. Over the past few years, some of the largest and well-known companies have been affected by data breaches resulting in millions of dollars in losses. Smaller businesses are not immune from data breaches, and even a small data breach impacting only a ...
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Vandeventer Black LLP Supports Cybersecurity Awareness Month – 2021
In recognition of National Cybersecurity Awareness Month, Vandeventer Black is pleased to announce that it will again be providing information and resources throughout the month of October to increase awareness of some of the complex cybersecurity issues and challenges that face businesses in Virginia and beyond. Recently, we published a series of articles addressing ransomware attacks, such as those involving Colonial Pipeline and JBS S.A., ...
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New Developments in the Colonial Pipeline Attack Provide Businesses Good News – And Some Important Lessons
It has been barely a month since we reported on the recent ransomware attack on the Colonial Pipeline Company, yet news continues to break with additional revelations about the recent attack. What we have learned during the past several weeks should give businesses encouragement, while reinforcing some important lessons. Shortly after the attack, it was revealed that Colonial Pipeline paid roughly $4.3 million in bitcoin ...
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Recent Attack On World’s Largest Meat Supplier Shows Businesses Are Vulnerable To Ransomware
A few weeks ago, details of the Colonial Pipeline ransomware attack filled the news cycle, and by now, most people have heard about the latest ransomware attack to hit the news. Brazil’s JBS S.A., the world’s largest meat processing company, was targeted this week by a ransomware attack that, according to reports, appeared to have originated from a criminal group likely operating in Russia, shutting ...
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Cryptocurrency: Entrepreneurs Leveraging New Technology
Vandeventer Black Corporate & Business, CyberSecurity & Data Privacy, Financial Services & Securities, Technology Roundup
Our previous article in this series looked at the legal framework surrounding blockchain technology. This article will look at practical uses for the technology. Blockchain technology has implications for many business owners, even those not interested in the speculative trading element in cryptocurrency which is akin to trading in the stock market. In addition to acting as a cash replacement, cryptocurrencies have many other applications, ...
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Cryptocurrency: A Legal Framework for a Fast-Moving Technology
Vandeventer Black Corporate & Business, CyberSecurity & Data Privacy, Financial Services & Securities, Technology Roundup
Our previous article considered the technology behind cryptocurrency. This article will focus on the legal framework governing the industry. The cryptocurrency market is subject to a patchwork of inconsistent legislation and regulations that continue to evolve, leading to uncertainty about its future. While the blockchain industry has grown for years, regulators have not kept pace with this growth, making the desire for regulatory clarification greater ...
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Cryptocurrency: An Evolving Market Still in its Infancy and Where it Stands Today
Vandeventer Black Corporate & Business, CyberSecurity & Data Privacy, Financial Services & Securities, Technology Roundup
Bitcoin was first introduced in a 2009 white paper, Bitcoin: A Peer-to-Peer Electronic Cash System.[1] Since then, cryptocurrencies[2], also known as virtual or digital currencies, have exploded, with thousands of different types in circulation, achieving a $2T market cap in early 2021[3], and with the number of blockchain wallet users rising to more than 70 million as of May 2021.[4] However, the blockchain concept, which ...
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Colonial Pipeline – A Ransomware Attack Hits Close To Home
If you had never heard of the Colonial Pipeline Company before last week, chances are that you have heard about it now. Sitting in your car waiting in long lines to fill up at your local gas station hoping they don’t run out is likely not something you have experienced unless you are old enough to remember the gas shortages of the 1970s. Colonial Pipeline ...
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Virginia’s New Data Privacy Law
Click here to watch the video. [Video Transcript] Hello, and welcome to Van Black Law. Vandeventer Black is a business and litigation law firm providing internationally recognized services across a wide variety of legal sectors. Thank you for tuning in to Van Black Law’s Technology Roundup where we discuss the latest data and technology issues affecting your business. I’m Jonathan Gallo, and I am part of Vandeventer Black’s Cybersecurity and Data Privacy Group. Today we’re going to discuss some of the major provisions of Virginia’s ...
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East Meets West: Virginia Follows California’s Example with Comprehensive Consumer Data Protection Legislation
Article published in Virginia Lawyer | April 2021 | VOL. 69 | The Construction Law and Public Contracts Issue | Page 45 ...
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Global Insurer Reports Ransomware Attacks Increased in Severity and Cost in 2020
According to a recent report by global insurer Beazley based on its customer data, in the first half of 2020, total costs of ransom payments doubled, along with the number of ransom demands paid compared with the same time period in 2019. Ransomware is a form of malicious software (malware) that blocks user access to a device or files, usually by encryption, until the victim ...
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Virginia Companies Doing Business With California Residents
Take Notice; The California Consumer Privacy Law Took Effect on New Year’s Day! On January 1, 2020, the California Consumer Privacy Act (CCPA) took effect, and with it come additional data privacy rights provisions that affect certain businesses that collect or sell the personal information of California residents. This post will summarize the main provisions of the CCPA and what businesses should be aware of ...
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Cyber Liability Insurance for Small to Medium Size Businesses – Are You Covered?
Today, it seems hardly a month passes without a report of another business falling victim to a data breach. Over the past few years, some of the largest and well-known companies such as Equifax, Target, Home Depot, TJ Maxx, Anthem, Sony Pictures, and Uber, have been affected by data breaches. These companies have experienced significant losses, totaling millions of dollars. While larger companies may possess ...
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Business Email Compromise Scams and Malware: Why Construction Companies Should Worry
From 3D printing and drone use, to increased use of tablets, laptops, smartphones, and wearables, the construction industry is becoming increasingly dependent on the use of technology. Use of augmented reality programs, advanced tracking technologies, and multi-user cloud-based platforms are on the rise; and while these technologies can increase efficiency, reduce costs, and increase worksite safety, they also come with increased risk. This article discusses ...
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