Cyber Threats to Banks and Financial Institutions

(454 Ratings)

Produced on: October 24, 2017

Course Format On Demand Audio

Taught by


Course Description

Time 62 minutes
Difficulty Intermediate

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


Joseph Facciponti

Murphy & McGonigle PC

Joseph Facciponti is a former federal prosecutor with in-house experience whose practice focuses on white collar defense, internal investigations, and cybersecurity.

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 complex and high-profile cases involving a wide-range of financial and computer crimes, including computer hacking, fraud, money laundering, and intellectual property theft. He regularly appeared in Manhattan federal court, tried six cases to verdict in jury and bench trials, and argued several appeals before the Second Circuit. In 2010, Mr. Facciponti 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 was responsible for leading global internal investigations of matters involving money laundering, sanctions, tax, and anti-bribery laws, including the Foreign Corrupt Practices Act. While at HSBC, Mr. Facciponti advocated for the bank’s interests before U.S. and foreign regulators as well as HSBC’s independent compliance monitor. Mr. Facciponti also advised HSBC on adopting remedial measures and in making changes to its compliance policies in response to the findings of his investigations.

While in private practice, Mr. Facciponti has advised clients regarding data breaches, regulatory investigations, cybersecurity compliance, international arbitrations, and commercial and intellectual property litigation.

Mr. Facciponti has clerked for United States District Judge Kenneth M. Karas in the Southern District of New York and United States District Judge Nancy F. Atlas in the Southern District of Texas. 

Mr. Facciponti graduated, magna cum laude, from Cornell Law School in 2001 and obtained a B.A. in Philosophy from Yale University in 1996. At Cornell, he served as Editor-in-Chief to the Cornell International Law Journal.

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).


Joseph K.

Good overview

joseph d.

Excellent program.

Phillip C.

Good content!

Marjorie C.

Very knowledgeable team. Thanks.

T. Rodney 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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$ 59 Banking Law, Administrative Law, and Privacy & Cybersecurity In Stock


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