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Cyber Threats to Banks and Financial Institutions

(684 reviews)

Produced on October 24, 2017

$ 89 Banking, Administrative, and Privacy & Cybersecurity In Stock
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Course Information

Time 1h 2m
Difficulty Intermediate

Course Description

From massive ransomware attacks to insider trading, cyberattacks pose an increasing costly threat to the financial sector in the U.S. and abroad. In this program, Cadwalader, Wickersham & Taft attorneys Joseph Facciponti and Joseph Moreno review latest trends in cybersecurity, including the evolving nature of cybercrime and cybercriminals; what financial institutions can do to mitigate their cybersecurity risk and how they can effectively respond to a cyberattack; and the legal obligations and potential sources of liability for businesses that fail to adopt adequate cybersecurity practices and procedures.

Learning Objectives:

  1. Explore the evolving nature of cybercrime and the different types and different motivations of cybercriminals, including threats posed by corporate insiders and by third party service providers
  2. Review recent developments in data protection laws, including New York’s new cybersecurity rules for financial institutions, Europe’s General Data Protection Regulation, and the SEC’s Regulation S-P, among others
  3. Understand the nature of potential sources of liability in the aftermath of a data breach, including private lawsuits and regulatory enforcement actions

Credit Information

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Joseph Facciponti

Murphy & McGonigle PC

Joseph Facciponti is a Partner in the New York office of Murphy & McGonigle PC whose practice focuses on cybersecurity, compliance counseling, and white collar matters. For nearly nine years, Mr. Facciponti was a prosecutor at the U.S. Attorney’s Office for the Southern District of New York, where he handled cases involving a wide-range of financial and computer crimes. In 2010, he received an FBI Director’s Award for outstanding cyber investigation, based on his work in investigating and disrupting a major international computer hacking ring that targeted financial institutions. After leaving the U.S. Attorney’s Office, Mr. Facciponti held a supervisory position in the legal department of HSBC, where he led global internal investigations and advised HSBC regarding its financial crime compliance programs. Mr. Facciponti graduated, magna cum laude, from Cornell Law School and obtained a B.A. in Philosophy from Yale University.

Joseph Moreno

Cadwalader, Wickersham & Taft LLP

Joseph Moreno, a former federal prosecutor, is a partner in Cadwalader’s White Collar Defense and Investigations Group. Dual qualified to practice in the United States and as a solicitor in England and Wales, Mr. Moreno has extensive trial and appellate experience handling complex investigations and litigation involving the U.S. Department of Justice, the Securities and Exchange Commission, the U.S. Department of Defense, and other domestic and international regulators and law enforcement agencies. Representative matters have involved money laundering, cyber fraud, securities and accounting fraud, insider trading, the Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, and other white collar criminal and civil matters.

Mr. Moreno rejoined Cadwalader after serving at the U.S. Department of Justice in the National Security Division’s Counterterrorism Section, where he investigated and prosecuted international money laundering, material support, structuring, and terrorist financing cases. He was also appointed a Special Assistant United States Attorney for the Eastern District of Virginia, where he prosecuted a wide variety of criminal cases and successfully argued before the U.S. Court of Appeals for the Fourth Circuit. Mr. Moreno has extensive experience handling classified litigation pursuant to the Classified Information Procedures Act, and in government surveillance matters relating to the Foreign Intelligence Surveillance Act and the USA PATRIOT Act. In 2011, he was awarded the Anti-Defamation League's SHIELD Award for his prosecution of the "DC Metro Bomber" case.

In 2014, Mr. Moreno was appointed as a consultant to the Federal Bureau of Investigation (FBI), where he served on the staff of the FBI 9/11 Review Commission. In that position, Mr. Moreno assisted the Commission in its Congressionally-directed mandate to evaluate the FBI's performance in addressing the threat of domestic and international terrorism.

A decorated combat veteran, Mr. Moreno is a Lieutenant Colonel in the U.S. Army Reserve and has served on active duty as a military prosecutor in Europe, the Middle East, and Africa. In 2004, he was awarded the Bronze Star Medal for his service in Iraq. In 2005, he served as the legal advisor to a multinational counterterrorism task force in Djibouti. Mr. Moreno is a recognized expert in the area of international and operational law, and is a regular speaker before military and civilian audiences in the United States and overseas. He serves as Chairman of Cadwalader's Veterans Affinity Network.

Prior to joining Cadwalader, Mr. Moreno was an associate in the Structured Finance and White Collar Crime Groups at Skadden, Arps, Slate, Meagher & Flom LLP. In 2014, he was named to Stony Brook University’s “40 Under 40” Alumni list, and received the Distinguished Veteran Alumni Award from St. John’s University. Mr. Moreno was named a “Rising Star” by Washington, D.C. Super Lawyers Magazine in 2014 and 2015, and a "Super Lawyer" in 2016 and 2017.

Mr. Moreno earned his undergraduate degree in political science, cum laude, from Stony Brook University, where he was elected to Phi Beta Kappa, his J.D., cum laude, from St. John's University School of Law, where he was a Senior Staff Member of the St. John's Law Review, and his M.B.A. with Honors from St. John's University Peter J. Tobin College of Business. He is a member of the bars of the State of New York and the District of Columbia, and is admitted as a solicitor in England and Wales. Mr. Moreno is also a certified public accountant (CPA).


Daniel C.

Very good

Geoffrey K.

This is a good overview of cybersecurity issues affecting banks and financial institutions. Presenters did a good job explaining the material.

anne c.

Very informative.

Paula G.

Great program, very clear and informative.

Barbara E.

Timely topic, well covered

David H.

Useful presentation

Joseph K.

Good overview

joseph d.

Excellent program.

Phillip C.

Good content!

Marjorie C.

Very knowledgeable team. Thanks.

T. O.

Excellent program. Thank you Messers Facciponti and Moreno!

Arthur F.

Great Course, some cybersecurity background is recommended!!!

Taylor B.

Nice course

Charles S.

This was an informative presentation. But scary.

Henry E.

Extremely timely and relevant topic

Timothy S.

I thought the two Josephs were very good.

William B.

The two Joes were great. A very informative presentation.

Kathryne W.

Extremely troubling, yet eye opening.

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