Lewis Roca Blog

The Arizona Court of Appeals affirmed a jury verdict that imposed 100% liability on an escrow agent for a wire transfer it sent to a cybercriminal/imposter and attributed no fault to the imposter or the party whose systems were compromised by the imposter. Cybersecurity practitioners and Arizona litigators should take note of the decision and its potential implications.

In Mago v. Arizona Escrow & Financial Corp., the plaintiff (“Mago”) had contracted to purchase a Subway franchise from the prior owners (the “Sellers”). The escrow agent for the deal was Arizona Escrow (the ...

The National Credit Union Administration (NCUA) approved a final rule that will require any Federally-Insured Credit Union (FICU)—including federally chartered corporate credit unions and federally insured state-chartered corporate credit unions—to report certain cyber incidents to the NCUA as soon as possible, and no later than 72 hours, after it “reasonably believes” it has experienced a reportable incident. The rule, which adds a new subsection (c) to 12 CFR Part 748.1, goes into effect September 1, 2023.

In issuing its new rule, the NCUA attempted to closely ...

The investigation is focused on retail, travel, and food service apps that either do not honor consumer opt-out requests or do not provide the appropriate mechanisms for consumers to stop the sale of their data.

The best time to respond to a ransomware attack was yesterday, but the second-best time to start responding is today. Study after study over the past year has confirmed that having a plan in place in the event of a data breach and ransomware attack can save you and your company millions. Every employer has a fire evacuation plan and drills they run, and this is no different.