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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Mobile App Developer Agreements 

BakerHostetler Brief by Partner Alan Fried, BakerHostetler

Mobile apps are no longer just for streaming media, playing games and social media. Almost any company that engages with consumers needs a mobile app. Like other important IT vendor engagements, the RFP, scoping and contracting process for developing and operating a mobile app, whether it is a wholly custom application or a white label software-as-a-service solution, is crucial to establish the schedule and deliverables, the parties’ responsibilities, dependencies, who owns and can do what with the IP and data, how risk is apportioned and the company’s rights and remedies if the relationship sours or ends

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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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ABMI announces 27th consecutive distribution to participating banks 

$82.7 million has been declared in total distributions since 1991

American Bankers Mutual Insurance, Ltd. announced a distribution for the 27th consecutive year. 1,037 members of the American Bankers Association (ABA) that have D&O, Financial Institution Bond and related insurance from ABA Insurance Services were eligible to share $1.5 million.

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