Justice Department Brings FCA Online – Tech


United States: Justice Department puts FCA online

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Deputy Attorney General Lisa Monaco announced two major cyberspace law enforcement initiatives on October 6. These latest developments in the Justice Department’s recently launched ‘Comprehensive Cybersecurity Review’ came just hours after Monaco published an editorial urging Congress to pass a law creating a national standard for reporting significant cyber attacks. incidents. Here’s a quick rundown of these latest additions to the government’s enforcement toolbelt:

Civil initiative against cyber fraud: In the world of the application of the False Claims Act to civilians, the DAG Monaco warned that the new “Civil Cyber-Fraud Initiative” of the DOJ would continue the actions of the FCA to “extract very heavy fines” from those “charged of government dollars “or” charged with working on government systems “which are considered” bankruptcy “[ing] to follow the required cybersecurity standards. The launch of the Initiative roughly outlined some of the expected enforcement targets, including individuals and entities who receive federal funds and knowingly (1) provide deficient cybersecurity products or services; (2) distort their cybersecurity practices or protocols; or (3) violate obligations to monitor and report cybersecurity incidents and breaches. Comments from DAG Monaco also encouraged whistleblowers to provide information on poor cybersecurity practices of companies, with a focus on FCA’s recovery sharing and whistleblower protection provisions.

Based on feedback from DAG Monaco, we expect the DOJ to increasingly assert that cybersecurity compliance is a “hard” condition for government contracts. Subcontractors of all kinds, but especially those who frequently work with sensitive information or government data, should be prepared for an increase in allegations – whether from Justice Department lawyers working on this new initiative. or potential reporters – regarding a faulty cybersecurity measures or an inadequate incident. report.

National Cryptocurrency Enforcement Team (NCET): DAG Monaco also announced a new criminal division-based initiative focused on cryptocurrency-related crime, noting that the DOJ is strengthening its ability to “investigate, prosecute and disrupt” bad actors and ensure that consumers ” can be confident when using [cryptocurrency] systems. ”NCET will include lawyers from several sections of the department’s criminal division, including the money laundering and asset recovery section and the computer crime and intellectual property section, as well as specialist experts. in cryptocurrencies from various federal prosecutor’s offices across the country. This move is another sign of DOJ’s increased efforts to infiltrate the complex and rapidly evolving world of cybercrime on a variety of cybersecurity-related cases , including state-sponsored cryptocurrency, ransomware, and cybersecurity threats.

Come back to see us at Who Notes and Application edge as we closely follow how the GM uses these new initiatives. Those of us here at
Application edge have been keeping an eye out for a variety of developments in the cybersecurity and cryptocurrency world in recent months, and you can bet that Who Notes will keep you posted as the DOJ appears poised to bring Civil War-born False Reporting Law into the digital age.

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Regulatory approaches for decentralized finance

Braumiller Law Group, SARL

Decentralized Finance (DeFi) is a term describing the assortment of different financial applications enabled by blockchain technology and cryptocurrency with the aim of decentralizing financial services that are currently intermediated by financial institutions.

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