Today, April 4, 2024, Cybersecurity and Infrastructure Security Agency (“CISA”) officially published its long-awaited Notice of Proposed Rulemaking (“Proposed Rule”) for the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (“CIRCIA”). The Proposed Rule requests written comments from the public no later than June 3, 2024. CISA will then have 18 months to promulgate a final rule which is expected to be finalized and in effect by October 2025. CIRCIA Big Picture CIRCIA is…
The new Cyber Security Bill 2024 (“Bill”) was tabled for first reading at the Malaysian Parliament on 25 March 2024. The Bill aims to provide a regulatory framework for the safeguarding of Malaysia’s cyber security landscape by requiring national critical information infrastructure entities to comply with certain measures, standards and processes in the management of the cyber security threats and cyber security incidents. To achieve such objectives, the Bill provides for, among others, the establishment…
28 January 2024 is Data Protection Day (or Data Privacy Day outside of Europe), which marks the anniversary of the Council of Europe’s Convention 108. Data Privacy Day encourages the global community to think about the importance of respecting privacy, safeguarding data, and enabling trust. In an increasingly connected and digitized world, where data protection, privacy and cybersecurity regulation are rapidly evolving, the work of the global data community is more vital, and more challenging,…
On January 7, 2024, China’s Cyberspace Administration (“CAC”) closed the public consultation period for its new cybersecurity incident reporting rules, which were released in December. If the draft rules are adopted as written, companies would be required to report certain cybersecurity incidents to the relevant Chinese regulator within one hour. The relevant regulator depends on the nature of the IT system compromised, the industry, and other factors and may be the local CAC, the public…
In brief The Federal Information Security Act (ISA), which only entered into force on 1 January 2024 is already being amended with an obligation to report cyberattacks for operators of critical infrastructures. The term “critical infrastructures” is defined in a broad manner and captures many private companies. On 18 January 2024, the deadline for challenging the amendment by way of a public referendum expired. This means that the amended version (“revISA”) will become law, with…
In the classic movie “The Wizard of Oz,” Dorothy, Scarecrow and Tinman walk through the forest while expressing great concern about the “lions and tigers and bears, oh my!” they may face on their journey to Oz. Companies experiencing global ransomware and cyberattacks can experience similar emotions as they grapple with increasingly complex global legal risks. Across the globe, local legislatures and regulatory authorities have established a multitude of different and sometimes conflicting legal obligations…
On December 21, 2023 the Federal Communications Commission (FCC) issued updates to its Data Breach Notification Rule, which applies to telecommunications carriers, as well as to voice over internet protocol (VoIP) and telecommunications relay service (TRS) providers. The updated Data Breach Notification Rule marks the most significant changes to the Rule since its adoption 16 years ago and modernizes the FCC requirements by bringing them more closely in line with other breach reporting obligations. The…
This past year brought the rapid rise of ChatGPT and other generative AI platforms, accompanied by several noteworthy legal and regulatory developments. 2024 promises to continue with technology advances, making it a pivotal year for businesses navigating global data privacy and cybersecurity risks. Our Baker McKenzie Top 10 predictions for 2024 follow. AI-enhanced cyber threats will increase globally. Threat actors will continue to leverage AI for increasingly sophisticated attacks, exploiting new technologies to enable highly-personalized…
The California Privacy Protection Agency (“CPPA”) held a public board meeting on December 8, 2023. As discussed in our previous article, the CPPA is in the process of preparing Draft Regulations on Cybersecurity Audits, Risk Assessments and Automated Decision-Making Technology. The Rules Subcommittee provided updates on these regulations, and Board members provided their feedback on the drafts. Key Takeaways Regarding CCPA Cybersecurity Audit Regulations The Cybersecurity Audit Regulations would require businesses “whose processing of consumers’…
Effective Nov. 1, the New York State Department of Financial Services has strengthened cybersecurity requirements for financial services companies. All companies should take account of these amendments, as these NYDFS regulations are increasingly referenced as key benchmarks for cybersecurity compliance programs. New York’s Department of Financial Services finalized significant amendments to the cybersecurity requirements for financial services companies in Part 500 of Title 23 of the Official Compilation of Codes, Rules and Regulations of the…