- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-10-07T18:12:00
The Department of Justice will use the False Claims Act to pursue cases of cybersecurity-related fraud by government contractors and grant recipients—including claims against entities that fail to report breaches and hacks in a timely manner.
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Verizon Business Network Services agreed to pay approximately $4.1 million to settle allegations levied by the Department of Justice regarding false claims caused by failure to fully implement cybersecurity controls required of a government contractor.
Web hosting company Jelly Bean Communications Design and its manager agreed to pay $293,771 in the latest Department of Justice case holding government contractors accountable for poor cybersecurity practices.
Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations raised by a whistleblower that the aerospace and defense manufacturer misled the federal government regarding its compliance with cybersecurity requirements in certain contracts.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
