Leadership & Executive Communication , Training & Security Leadership

Prosecutors Accuse FTX's Founder of Crypto-Based 'Deception'

Also: Legal Protection for CISOs; Privacy Trends in 2023
Prosecutors Accuse FTX's Founder of Crypto-Based 'Deception'
FTX CEO John Ray testifies before the House Financial Services Committee on Dec. 13, 2022. (Image: C-SPAN)

The latest edition of the ISMG Security Report discusses how investigators have characterized the collapse of cryptocurrency exchange FTX as "one of the biggest financial frauds in American history," how CISOs can guard against their own liability, and major security and privacy shifts expected in 2023.

In this report, you'll hear (click on player beneath image to listen):

  • ISMG's Mathew Schwartz describe how this week prosecutors unsealed a federal grand jury indictment charging California native Sam Bankman-Fried, the founder of FTX, with misappropriating billions of dollars of customer funds deposited with FTX, beginning in May 2019;
  • Jonathan Armstrong of Cordery Compliance share practical steps that security leaders should take to guard against their own liability, after former Uber CSO Joe Sullivan was found guilty in a breach cover-up;
  • Lisa Sotto of Hunton Andrews Kurth LLP discuss how the global regulatory picture around privacy shifted in 2022 and the outlook for the year ahead.

The ISMG Security Report appears weekly on this and other ISMG websites. Don't miss the Dec. 1 and Dec. 8 editions, which respectively discuss why ransomware victims avoid calling it "ransomware" and the mistakes enterprises commonly make when building ransomware defenses.

Theme music for the ISMG Security Report is by Ithaca Audio under a Creative Commons license.

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