Data and information management

U.S. public finance entities could see heightened "cyber reprisals" by Iran and its proxies amid the continuing conflict in the Middle East, with these attacks from state-sponsored actors, hacktivist groups, and lone wolves likely to become more frequent, Fitch Ratings warns.

A California lawmaker introduced legislation that would require data centers that use excessive amounts of energy to pay a surcharge to avoid rate hikes on residents.

The development of powerful quantum computers has serious implications for how state and local governments protect sensitive information.

In rural areas, "even modest rate increases can force low-income households to choose between water service and other basic necessities," Matt Odermann from the National Rural Water Association told senators Wednesday.

Fiddlers Canyon's complaint should be dismissed for several reasons, UMB said. 

As climate and cybersecurity risks intensify, Jeff Lipton argues it's time for the legal community to lead a new era of municipal disclosure — tightening language, clarifying exposures, and ensuring investor confidence.

The attackers did not steal any data, but the firm had to rebuild its servers to get back into operation, said Albert Rodriguez, a manager at ImageMaster.

"If I wanted to target municipal finance, this would be a really good place for me to start," said Omid Rahmani, public finance cybersecurity lead at Fitch Ratings.

BondLink's client issuers reached over $500 billion in bond sales while working with the municipal bond platform.

Nevada is the latest public entity to be hit by a cyberattack, with officials struggling to restore services.

St. Paul, Minnesota, is recovering from a cyber attack that overwhelmed the city's defenses ahead of its Aug. 19 bond deal close.

Since the attack, many in the industry have had conversations about how to better secure transfer of funds, Vivian Altman said.

Closing is scheduled for White Lake Township, Michigan's second try at a GO bond sale after the first was interrupted by the cybertheft of bond proceeds.

While the White Lake, Michigan, township hack is the best-known and publicly disclosed cyberattack, there have been others. Some issuers and firms are reluctant to share these experiences publicly.

SEC probe relating to a cyberattack on a Michigan township's bond sale could involve looking into whether investors are getting an accurate picture of the issuer's credit risk, a former SEC enforcement attorney said.

Belvia Gray, Public Finance Leader at Baker Tilly, talks about the firm's efforts and focus on bringing the industry together on cyber security threats, succession planning and more.

The public finance industry is addressing cyber threats, which became clearer with last year's hack of White Lake Township's bond closing.

White Lake Township, Michigan, is facing legal action on two fronts: one of them related to the hack of its bond deal closing last year, the other a civil suit. 

The offering document for a White Lake Township bond sale sheds more light on the hack criminals used to intercept funds between the underwriter and borrower.

Data-driven local governments and other public agencies might sound like a complex subject or something difficult to attain, but that could not be further from the truth.