Posts in Category: Loss Control

Blog Post List

The Growing Threat of Ransomware 

By M. Scott Koller, Attorney and member of BakerHostetler's Privacy and Data Protection Team

More than just a nuisance, ransomware has become a legitimate threat to business operations and continuity.

The FFIEC eerily foreshadowed the meteoric rise of ransomware in November, 2015. In the first three months of 2016 alone, the FBI estimates that cyber criminals have collected over $209 million from businesses, hospitals, and other institutions. If that rate continues, ransomware is on track to become a billion-dollar criminal enterprise. Moreover, that figure only represents reported losses and does not include unreported incidents or tangential costs such as system downtime, reputational damage and remediation efforts. The true magnitude is likely much larger.

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Workplace hotlines in the era of Fox News 

by Laura Simmons

SafeAlert-Importance of Workplace HotlinesIn light of the recent events at Fox News, is your company providing and properly maintaining a hotline for employees to call and report harassment, discrimination or other workplace issues? Why would a company pay to provide a hotline and not publicize it to employees? Also, if they knew about it, why wouldn’t employees use this resource?

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UPDATE regarding ADA compliance lawsuit notifications 

Since September 2016, we have been receiving notices from insured banks that have received letters from law firms alleging that bank websites and internet-based banking services violate the Americans with Disabilities Act (ADA) because the sites are not accessible to the visually impaired. The demand letters typically seek a settlement payment and an agreement to work with the law firm to modify the website in accordance with proposed regulations.

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Are your bank’s websites, Internet banking services accessible to the visually impaired? 

Be aware that plaintiffs’ firms are now targeting banks of all sizes for website accessibility.

Banks of all sizes nationwide are receiving demand letters from plaintiffs’ law firms on behalf of blind customers alleging inability to access Internet banking websites in violation of the Americans with Disabilities Act (ADA). The letters demand that the banks modify the websites to comply with proposed rules that won’t be enacted until 2018 and, of course, the firms are seeking attorneys’ fees.

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Top 10 Ways to Avoid Employment Related Problems 

Employment-related lawsuits are difficult to deal with: emotions run high with personal issues often brought into play. Even when claims are meritless, defense costs can be substantial. The impact on morale and reputation can also be significant. The following tips may help reduce employment-related issues in your business and strengthen your defense if an action is brought.

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Ransomware information resources available on aba.com 

From American Bankers Association
Documents to help you identify various forms of malware, outline preventative measures, business continuity considerations, and know what to do if infected with ransomware and how law enforcement can assist are now available at a newly created ransomware issue page from the American Bankers

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