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First FCA Payout Over Cybersecurity Goes to Cisco Whistleblower

Cisco Systems Inc. recently agreed to a significant settlement after a whistleblower filed a lawsuit claiming the company improperly sold video surveillance software that had known weaknesses to federal and state government agencies. The case marks the very first time a False Claims Act resulted in a payout over failure to adhere to proper cybersecurity Read More

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SEC Expected to Get Tougher on Cyber Fraud

A report from the U.S. Securities and Exchange Commission last fall warned that publicly held companies with insufficient internal accounting controls are more likely to cause cyber fraud and could be in violation of federal law and subject to future fines from the SEC. This indicates the agency is looking to crack down even further Read More

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Companies Must Be Careful About How They Handle Potential Cybersecurity Whistleblowers

Recent guidance from the U.S. Securities and Exchange Commission (SEC), as well as cases involving the agency and a Supreme Court ruling on whistleblower protections, have shown just how seriously the SEC takes cybersecurity. Now, the onus is on companies across the nation to treat potential cybersecurity whistleblowers properly. In one recent case the SEC Read More

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The SEC’s Groundbreaking Settlement with Yahoo

On April 24, the Securities and Exchange Commission (SEC) announced a settlement with the Altaba, Inc., formerly known as Yahoo! Inc., worth $35 million. The figure settled charges that the company deliberately misled investors by waiting a full two years to release information about a data breach that resulted in hackers gaining access to personal Read More

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Whistleblowers Could Play an Important Role as Major Banks Work to Combat Cyber Threats

The Wall Street Journal reports that eight of the country’s largest banks are joining forces to combat the ever-present threat of cyber crime — and whistleblowers are playing important roles in these efforts. The group of banks includes Bank of America, Wells Fargo, Goldman Sachs and J.P. Morgan Chase. They are reportedly collaborating to share Read More

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