Tantleff Quoted on FinCEN Cyberattack Reporting Advisory

Partner Aaron Tantleff was quoted in a Wall Street Journal article, “Regulator Wants More Reporting From Banks on Cybersecurity,” on October 27, 2016. The article discussed the U. S. Treasury’s office of Financial Crimes Enforcement Network’s effort to encourage financial institutions to report suspected or known cyberattacks.

Tantleff noted that the new filing requirements are not a revolutionary change and said, “I don’t think the information is overly egregious or difficult to provide, or would have me concerned that the delivery would be overly resource-intensive or result in a potential security risk.” He continued to discuss a key benefit, by having financial institutions share more data about cyberattacks or attempts, it helps to build a larger body of information that can be used to improve defenses. “When we pull larger data sets together we should create a better repository of research and insight into cybercrime. The point of this is to be much more helpful,” said Tantleff.