Brokerage firm pays $1.5 million due to a cyber attack

Phillip Capital Inc. (“PCI”)., a Chicago-based brokerage firm was ordered to pay $1.5 million dollars due to a cyber attack. Per the CFTC, PCI allowed “cyber criminals to breach PCI email systems, access customer information, and successfully withdraw $1 million in PCI customer funds.” The order also finds that “PCI failed to disclose the cyber […]

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New York State SHIELD (Stop Hacks and Improve Electronic Data Security) ACT

New York State SHIELD (Stop Hacks and Improve Electronic Data Security) will go into Effect March 21, 2020. This gives businesses a little less than nine months to become familiar with it and prepare for it entails. What is the SHIELD Act? The Stop Hacks and Improve Electronic Data Security (SHIELD) Act redefines data security […]

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