The Cyber Clock is Ticking: Biden Administration & Congress Advance Incident Reporting

As we reported on September 9th, meaningful and robust federal cybersecurity legislation is nearly across the finish line. Since then, further developments indicate that reporting mandates are imminent. On September 21st, the United States Department of the Treasury’s Office of Foreign Asset Control (OFAC) released guidance that all U.S. companies not reporting ransomware attacks would be subject to enforcement action and possible fines. The Biden administration was on Capitol Hill on September...
By: Nossaman LLP

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